If you've seen "East Works" on a sign or a map near Carothers Parkway in Cool Springs and wondered why nothing's been built, you're not missing anything. The city approved this one in 2020. Here's what it was approved for, and why five years later there's still no building.
Quick answer: East Works District is the entitled but still-unbuilt redevelopment of the 49.93-acre former Carothers Building office campus at 9009 Carothers Parkway in Cool Springs, between Carothers Parkway and I-65. The City of Franklin zoned the site in 2020 for up to 1,624 homes, almost all apartments, plus more than a million square feet of commercial space and 605 hotel rooms. MarketStreet Enterprises, the developer behind Nashville's Gulch district, is building it for owner Lionstone Investments. As of October 2026, the project's own website still describes it as a "master plan proposal," and the city's 2025 Development Report lists it among approved projects with zero units built.
What's Approved
The zoning the Board of Mayor and Aldermen passed in July 2020, Ordinance 2020-11, allows up to 1,624 dwelling units. The city's 2025 resolution breaks that down as 1,615 multifamily units and 9 townhomes; press coverage at the time of approval rounded it to about 1,600.
The entitlement also covers about 1.1 million square feet of nonresidential space and up to 605 hotel rooms.
The existing Carothers Building, built in 1994 for Ford Motor Credit and running about 509,000 square feet, stays as the centerpiece of the plan.
City staff's 2025 packet allows buildings of one to twelve stories, built in phases over a long period.
Who's Behind It
MarketStreet Enterprises, the developer behind Nashville's Gulch district, is the master developer. Lionstone Investments, a Houston firm, bought the Carothers Building in 2012 and owns the property. The 2019 design team was TPUDC for master planning, 906 Studio for architecture, and Ragan-Smith for engineering.
Where It Sits
9009 Carothers Parkway, north of Meridian Boulevard and west of Carothers Parkway, between Carothers Parkway and I-65, just north of Cool Springs Boulevard.
Why It Hasn't Broken Ground
Tennessee's vesting rules give an approved zoning case a window to act before it expires. The city extended that window once, in June 2023, to July 14, 2025. The developer then asked for another 18 months, to January 14, 2027, but withdrew that request in July 2025 after city staff found the project had already met its first vesting milestone, which extends the entitlement further on its own.
In a May 2025 letter to the city, MarketStreet said it had stamped a Phase 1 site plan in September 2023 and had just received digital approval on its grading and utility permit documents for Phase 1, with one private access easement still being worked out. The developer blamed the delay on construction cost inflation from 2021 to 2024, flat local multifamily rents, higher interest rates, and a slow-moving neighbor.
The city's 2025 Development Report lists East Works under "approved residential developments with no completed units," crediting it with 1,624 approved units and zero built. As of October 22, 2026, I found no building permit, groundbreaking, or sale of the property in city agendas or local press, and the project's own site, eastworksdistrict.com, still calls it a "master plan proposal."
Timeline
| Date | What happened | Source |
|---|---|---|
| 2012 | Lionstone Investments buys the Carothers Building | Williamson Source |
| 2019 | MarketStreet and its design team (TPUDC, 906 Studio, Ragan-Smith) propose a master plan | Williamson Source |
| July 14, 2020 | BOMA second reading: zoning (PD 32.5/1,110,300 SF/605 keys) passes 8-0; development plan passes 7-0 with 7 modifications; parkland and road impact fee agreements both pass 8-0 | BOMA minutes, CC file 293 |
| August 11, 2020 | Zoning third and final reading approved on consent | BOMA minutes, CC file 326 |
| June 2023 | BOMA extends vesting to July 14, 2025 (Resolution 2023-23) | City records |
| May 22, 2025 | Developer asks Planning Commission for an 18-month vesting extension to January 14, 2027; Commission recommends 7-0 | FMPC packet, CC file 4183 |
| July 8, 2025 | BOMA withdraws the extension item after staff finds the project met its first vesting milestone | BOMA packet and minutes, CC files 4304, 4315 |
| 2026 | City's Development Report lists East Works as approved, 1,624 units, 0 constructed | 2025 Development Report |
| October 22, 2026 | No East Works item on the city's published agendas; no construction reported | City of Franklin agendas; eastworksdistrict.com |
What It Means If You're Near Cool Springs
Nothing is under construction right now, but this is worth watching for how big it is once it moves. Fifty acres zoned for up to 1,624 homes and over a million square feet of retail and office space next to I-65 will change traffic and the nearby retail and dining scene whenever it finally goes vertical. Five years after the zoning passed, that hasn't happened. I'm watching for a building permit or a groundbreaking, and I'll update this page the moment the city's agendas or the developer show real movement.
If you're deciding whether to buy or sell near Cool Springs while this sits dormant, I can walk you through what's actually selling in the area right now. Reach out by DM, text, or call me at 615-392-1186.
Frequently Asked Questions
What Is East Works District?
East Works District is the city-approved but still-unbuilt redevelopment of the 49.93-acre former Carothers Building office campus at 9009 Carothers Parkway in Cool Springs. Franklin zoned it in 2020 for up to 1,624 homes, almost all apartments, plus more than a million square feet of commercial space and 605 hotel rooms.
Where Is East Works District Located?
At 9009 Carothers Parkway in Franklin's Cool Springs area, north of Meridian Boulevard and west of Carothers Parkway, between Carothers Parkway and I-65.
Who Is Developing East Works District?
MarketStreet Enterprises, the master developer behind Nashville's Gulch district, is developing the site for owner Lionstone Investments, which bought the existing Carothers Building in 2012.
How Many Homes Will East Works District Have?
Up to 1,624 dwelling units under the city's 2025 resolution, broken down as 1,615 multifamily units and 9 townhomes.
Has Construction Started At East Works District?
No. The city's 2025 Development Report lists East Works among approved projects with zero units built, and no building permit, groundbreaking, or construction has been reported as of October 22, 2026. The project's own website still calls it a "master plan proposal."
Why Hasn't East Works District Been Built Yet?
The developer cited construction cost inflation, flat local apartment rents, higher interest rates, and a slow-moving neighbor easement in a May 2025 letter to the city. Staff determined in July 2025 that the project had met its first vesting milestone, which extends its entitlement window without a new public vote.
Will East Works District Have a Hotel?
The 2020 zoning allows up to 605 hotel rooms as part of the overall plan, but no hotel brand, phase assignment, or opening date has been announced.
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