4 weeks ago
Oracle's early office successful Nashville could run for illustration a municipality of its ain fixed nan planned amenities described by CEO and co-founder Larry Ellison.
When nan main executive fto it gaffe earlier this week that Oracle is readying to move its "huge campus" to Tennessee's superior city, he said it will not look thing for illustration a firm campus.
Instead, it will beryllium a parkland pinch buildings.
ORACLE'S LARRY ELLISON ANNOUNCES PLANS TO MOVE WORLD HEADQUARTERS TO NASHVILLE
Oracle Chief Technology Officer Larry Ellison delivers a keynote reside during nan 2019 Oracle OpenWorld Sept. 16, 2019, successful San Francisco. (Justin Sullivan/Getty Images)
Ellison said nan caller tract will person agency buildings, a organization clinic, restaurants, hotels and a performance venue, a floating shape connected nan reservoir for concerts to beryllium held for nan community.
According to The Tennessean, nan Nashville field will beryllium built connected a 70-acre parcel on Nashville's downtown riverfront that Oracle purchased successful 2021 for $250 million.
The newspaper reported Oracle besides plans to build a pedestrian span to link some sides of nan river. And institution officials scheme connected having nan offices connected nan compound up and operational by nan extremity of nan decade.
A motion is posted successful beforehand of Oracle offices June 13, 2022, successful Redwood Shores, Calif. Oracle moved its firm office from California to Austin, Texas, successful 2020. (Justin Sullivan/Getty Images / Getty Images)
| ORCL | ORACLE CORP. | 115.40 | +0.32 | +0.28% |
Nashville Mayor Freddie O'Connell celebrated Oracle's move to his metropolis connected X, but not everyone expressed nan aforesaid excitement. Nashville, for illustration astir of nan U.S., is successful nan midst of a lodging affordability crisis. So, nan news of much precocious earners moving into nan metropolitan area sparked concerns that much newcomers could thrust location prices moreover higher.
VAST MAJORITY OF ASPIRING HOMEOWNERS SAY THEY CANNOT AFFORD THE AMERICAN DREAM
"As a native, my first thought is ‘more transplants to proceed nan utter demolition of nan Nashville lodging market,’" 1 evident section wrote successful consequence to nan mayor's message. O'Connell replied, "As a chap native, we’re moving each time to effort to amended nan lodging situation."
Nashville (iStock / iStock)
"Nashville is nan metropolis I chose complete immoderate different to raise my family," O'Connell said successful a abstracted connection emailed to FOX Business Wednesday regarding the Oracle move. "We are a complete metropolis that besides checks nan container for business.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
"Our health attraction industry, which has agelong been a sparkling prima for Nashville, represents $68 cardinal successful section economical effect and employs 333,000 regionally, according to nan latest numbers from nan Nashville Health Care Council," nan connection continued. "As mayor, I want you to know: Nashville is simply a awesome spot to unrecorded and a awesome spot to do business."
FOX Business' Greg Wehner contributed to this report.
