NASHVILLE, Tenn. (WTVF) — Even though a developer poised to buy an iconic Nashville audio venue vows to maintain it, there are nevertheless a large amount of thoughts bordering the future of Exit/In.
Exit/In is underneath contract to be offered to AJ Money Associates. The firm produced a assertion Friday that stated it intends to maintain the home and under no circumstances prepared a resort or any other use for the area. The statement went on to say that the firm’s first motion as the operator would be to add Exit/In to the Countrywide Sign-up of Historic Areas so that “no one can at any time alter or modify the house, as it belongs to Audio Town.” The corporation also presented to refund all donations made to a Go Fund Me account to help save the location.
Nonetheless, Chris Cobb who has owned the Exit/In for 17 many years, nonetheless has worries.
“We don’t need to have any much more folks coming in from out of town and conserving Nashville,” said Cobb. “Particularly these cultural landmarks that have served the town for so extensive.”
For 50 years, Exit/In has been a cornerstone of the city’s so-known as “Rock Block.” Artists ranging from Jimmy Buffett to R.E.M. have executed on phase as a result of the yrs. The location has been closed due to the fact March of 2020 due to the pandemic, but Cobb claimed he hoped to be ready to reopen in June.
Cobb raised about $223,000 on Go Fund Me with the intent of buying the residence from AJ Capital Partners. Nearby musicians and metropolis leaders joined the force on social media to help you save the venue from being bought to the serious estate development organization. Cobb mentioned he however intends to get the assets.
“It just seems like if what they definitely want to do is what’s ideal for Exit/In, then acquire our dollars, make a gain, get out of the way, and go back to making stunning luxury resorts,” explained Cobb.
Metro Council Member Jeff Syracuse, who has been an advocate for preserving Exit/In, also expressed issues that AJ Funds Companions could however build on the assets.
“A Nationwide Historic Registry doesn’t deliver any serious safety from demolition or alterations of the developing,” said Syracuse. “Only a area Metro Historic Overlay would do that.”
Syracuse claimed a Historic Overlay is a zoning transform that has to be authorized by the Metro Council. At this time, no bill addressing an overlay for Exit/In has been submitted.
Syracuse included he thinks it is essential to protect the within of the location, as effectively and fearful a probable corporate partnership would spoil that.
“This is an iconic venue,” reported Syracuse. “I would like to see it keep in the hands of community possession, as it is now.”
When the property went up for sale in February, Cobb teamed up with the real estate expenditure agency Grubb Properties to purchase the site, on the other hand, the provide was not recognized and the assets was offered to AJ Funds rather.
In addition to Exit/In, AJ Capital Partners owns the Graduate Lodge on West Conclude Avenue, and is developing the May possibly Hosiery office creating in the Wedgewood-Houston neighborhood. The corporation is identified for its Graduate Lodges throughout the place.
When NewsChannel5 attained out to AJ Money Associates for more information and facts on plans for the website, the company did not respond.