NASHVILLE, Tenn. -- An announcement about a huge development plan for west Nashville was made Tuesday morning.

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Some people involved with the project are making comparisons to the Cool Springs area in Franklin.

Local leaders said they proposed the site because they are sick of seeing developments like Cool Springs land in places outside Davidson County. They said one reason development is moved out of the county is that there is no large, corporate office space in the Davidson County area.

"Nashville-Davidson County can no longer surrender the significant capital investment, sales tax, property tax and benefits that corporate relocation has given to adjoining counties," said developer Tony Giarratana.

The proposal calls for a corporate, residential and retail park in the Bells Bend area. The $4 billion project will be called the May Town Center, after the May family, which is spearheading the project.

The development is across the Cumberland River from the new Nashville West shopping center, which is still being developed.

"This is entrepreneurship. It's foresight. It's looking into the future, it's preserving quality of life things people didn't think about 40 or 50 years ago,” said Ralph Shulz of the Nashville Chamber of Commerce.

The proposed site would include corporate offices, corporate campuses, an amphitheater, a residential area and retail and dining spots, all within walking distance. Developers described the site as “a town within a park within the city of Nashville."

The entire plan is modeled after the Reston Town Center in Virginia.

In order to get to the area, a new interchange off Interstate 40 and a bridge across the Cumberland River would have to be built.

"The infrastructure would have to come first. It's an interchange, it's a bridge, and the boulevards and roadways that would comprise the town center,” said Giarratana.

Area resident Richard Coolidge said he loves the rural landscape his front porch provides him.

"I like the fact that it's rural, and I hope it stays that way,” he said.

Coolidge said he knew it was only a matter of time before someone developed the rural area in the heart of Nashville.

"We all want it to stay away, but it’s coming. It will be here,” he said.

Others were more optimistic.

"Well, I think it would be great for this area, because there's a lot of growth in this area. It would provide people a place to work and live,” one resident said.

There are still a number of approvals to get through before any construction can begin. Developers said they hope to start working on the infrastructure in the next two years, but that it would be about five years before residents see tenants and buildings move in.

Developers said they submitted their plans for the center to the Metro Planning Commission on Tuesday morning, which is the first step in a long approval process.