NASHVILLE, Tenn. — A team of more than 50 private investors has purchased the 47-acre metal recycling scrapyard on Nashville's East Bank for $245 million, marking a major step in transforming the area near the new stadium..

The investor group is led by David Byerley, who previously developed the 19-acre Nashville Yards project downtown. A deal has been in the works since at least February.

"There needs to be a vibrant and attractive downtown neighborhood where families have a sense of belonging and build strong, lasting memories together," Byerley said.

The purchase represents a major shift for the property, which has operated as a metal recycling facility since the 1960s.

Local songwriter and hospitality worker Michael McCrae shared his vision for the property's future.

"What can we

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