Colgate Plant Sold, May Be Sold Again Soon

by Gabe Bullard on April 3, 2009

New York based marketing company Active International now holds the title to the old Colgate plant in Clarksville. But  another company will likely own the plant in a few months.

Active traded about nine million dollars in advertising for the plant, and Clarksville Redevelopment Director Rick Dickman says officials hope to sell the property to a developer by the end of June.

“They don’t intend to develop it,” he says. “They don’t intend to own it very long. They are going to be a pass-through, eventually.”

The town will then hire a master planner to work with the new owner to turn the plant and the surrounding area into a mixed use development. The property around the plant has not been sold, but Dickman says it shouldn’t be difficult to obtain.

“When you look at these large tracts, they are actually owned by one company or another,” he says. “Whether it’s the Marathon Oil tankyard or, in a lot of instances, rental homes that are owned by one person.”

Dickman says it’s hoped that construction on the project will get underway within three years.

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