City officials have tapped Boyle Investment Co. to redevelop Gallatin’s downtown square and create a new city hall. Gallatin, a town of 45,000, is a half-hour drive from Nashville.

Plans for the proposed development, which will take over two city-owned blocks, include a “major brand” hotel, residential units, open green spaces and retail and restaurant space.

The Nashville Business Journal reports the project is expected to generate over $40 million in property tax revenue over 20 years and have a $261 million economic impact during its construction phase. It is also expected to create more than 300 permanent jobs in the city.

Memphis-based Boyle Investment Co. opened its Nashville office in 2001. It owns and manages almost 4 million square feet of office and retail space, as well as a projected five million square feet in the development and planning stages.

Boyle is responsible for Middle Tennessee developments including Berry Farms, McEwen Northside, Meridian Cool Springs and Capitol View.