Merus advances RiverGate redevelopment plans, outlining approximately $450 million investment
Nashville, TN – February 17, 2026 – Merus, a leading design‑build real estate development firm, today announced the acquisition and planned redevelopment of RiverGate Mall, a long‑standing retail landmark that has served North Nashville, Madison, and Goodlettsville since opening in 1971, into a 57‑acre mixed‑use district.
Planned as a multi‑phase project, the redevelopment will transform the former enclosed mall into a walkable, connected community with new streets and infrastructure, housing options, neighborhood‑serving retail and dining, entertainment, medical and office space, and public green space. Merus will also donate a portion of the site to Metro Nashville to support future rapid bus transit improvements through the WeGo system.
At completion, the project is anticipated to represent approximately $450 million in total value, subject to final design, phasing, entitlements, and market conditions.
“RiverGate has been part of this community since 1971, and that history matters,” said Patrick Poole, SVP and Nashville Market Leader for Merus. “Stepping into a site like this comes with a responsibility—not just to redevelop it, but to do it right. Our focus is taking a property designed for a different era and reimagining it as a walkable, active district where people can live, work, gather, and spend time. It’s a significant reinvestment, and one we believe can make a lasting difference for this area.”
Merus is partnering with Fulmer Lucas (civil engineering), Smith Gee Studio (land planning and master planning), and Pinnacle Bank (lending partner), and is working closely with Metro Nashville and the City of Goodlettsville throughout the process.
At full buildout, the master plan is anticipated to include:
• Approximately 700 multifamily units, 100 townhomes, and 80 independent senior housing units
• More than 130,000 SF of retail and dining
• A center green and plaza for community programming and gathering
• New roads, utilities, and pedestrian-focused infrastructure
• Donated land to support future rapid bus transit
The redevelopment is expected to generate hundreds of construction jobs, along with hundreds of permanent onsite and related jobs once completed, while expanding the local tax base for Metro Nashville and the City of Goodlettsville.
Initial demolition is anticipated to begin in spring 2026, with early vertical construction expected later in the year. Development will continue in phases through the early 2030s.
The project is supported by Tax Increment Financing benefit packages from Metro Nashville and the City of Goodlettsville, reflecting a public‑private partnership focused on long‑term community and economic value.
Additional project updates will be available at rivergateredevelopment.com.