PSC Metals

PSC Metals

Mayor John Cooper has a new idea for the “eyesore” scrapyard on the East Bank.

Speaking to the Economic Club of Nashville on Tuesday, Cooper suggested that the Tennessee Performing Arts Center and a new high school for the arts could move to the site owned by investor Carl Icahn.

Last year, Icahn agreed to sell the PSC Metals business but retained ownership of the land near Nissan Stadium.

That transaction is a “good development” for Nashville, Cooper said, as Icahn is now “more of a real estate investor” as it pertains to the site. Cooper said he plans to meet with Icahn and his son, Brett Icahn.

“How do we make the East Bank part of a Nashville that we grow beyond just Lower Broadway,” Cooper said. “That vision [of TPAC and other offerings at the site] is one that I think we will all be thanked for by our children and grandchildren.”

A series of mayoral administrations have sought to move the scrapyard. Cooper warned that Icahn is “famously good at getting more value than something is often perceived to be worth.”

Left unknown is the cost and timeline of remediation work necessary at the property.

Cooper is also working on changes to the city-owned land across the street, now home to Nissan Stadium. The mayor said that the Metro Council should have a proposal for a new domed stadium before them by the end of the summer.

The state is planning to lease its Polk Building, home to TPAC, to a developer.

"With the state’s plans for our current location in the James K. Polk Cultural Center, it would be preliminary to narrow down or single out any specific plan for TPAC at this point, but we are working closely with state officials, Metro Nashville and others to explore what will best support TPAC’s nonprofit mission and role as a cultural anchor in Tennessee,” TPAC spokesperson Alexia Poe said.

Icahn officials did not immediately respond to a request for comment.