The Washington County Commission in Jonesborough, Tenn. (WJHL) has given the green light to a tax increment financing (TIF) strategy for the redevelopment of Burlington Park.

The project would involve retail space, multi-family housing, parking, and a community park.

The Johnson City Industrial Development Board approved an economic development plan in May.

County Mayor Joe Grandy says the project will help address the area’s housing shortage.

“This is a significant and crucial project for the southern part of Johnson City,” Grandy stated. “The TIF is a tool to encourage developers by making their financial plans feasible. This development will occur across six phases over several years, offering residential spaces alongside local retail options.”

Grandy said the project is expected to take six to seven years.