{"id":1004173476,"date":"2017-04-20T02:15:06","date_gmt":"2017-04-20T10:15:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004173476"},"modified":"2022-12-07T17:53:09","modified_gmt":"2022-12-08T01:53:09","slug":"mega-project-makes-history-in-nashville","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mega-project-makes-history-in-nashville\/","title":{"rendered":"Mega Project Makes History in Nashville"},"content":{"rendered":"<p><em>By Scott Baltic, Contributing Editor <\/em><\/p>\n<p>In the form of preparatory demolition, construction has begun on the largest mixed-use development to date in downtown Nashville, the developers of the $430 million Fifth + Broadway project announced Tuesday.<\/p>\n<div id=\"attachment_1004173487\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Fifth-Broadway-in-Nashville.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004173487\" data-attachment-id=\"1004173487\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mega-project-makes-history-in-nashville\/fifth-broadway-in-nashville\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Fifth-Broadway-in-Nashville.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Fifth + Broadway in Nashville\" data-image-description=\"&lt;p&gt;Fifth + Broadway in Nashville&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Fifth + Broadway in Nashville&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Fifth-Broadway-in-Nashville.jpg?w=800\" class=\"wp-image-1004173487 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Fifth-Broadway-in-Nashville.jpg\" alt=\"Fifth + Broadway in Nashville\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Fifth-Broadway-in-Nashville.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Fifth-Broadway-in-Nashville.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Fifth-Broadway-in-Nashville.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004173487\" class=\"wp-caption-text\">Fifth + Broadway in Nashville<\/p><\/div>\n<p>When complete, Fifth + Broadway will comprise 235,000 square feet of retail and entertainment space, including the new National Museum for African American Music; 385,000 square feet of Class A office space; more than 350 residential units and more than 2,000 parking spaces. The developers are OliverMcMillan, of San Diego, and Nashville\u2019s own Spectrum | Emery.<\/p>\n<p>The project will replace the 6.2-acre Nashville Convention Center, a late-1980s building that was rendered obsolete with the 2013 opening of the Music City Center. Demolition has begun on the old convention center and should be finished by fall, a spokesperson told <em>Commercial Property Executive<\/em>.<\/p>\n<p>Fifth + Broadway\u2019s retail and office components are expected to be complete by late 2019.<\/p>\n<p>The development\u2019s 235,000 square feet of retail and entertainment reportedly will be the largest collection of shopping in downtown Nashville, where currently retail space vacancy is only 2.9 percent, Tom Turner of the Downtown Nashville Partnership said in a prepared statement.<\/p>\n<p>The developers noted that tourism in Nashville is setting records, with 13.9 million visitors to the city in 2016 and annual visitor spending now exceeding $5.7 billion.<\/p>\n<p>In addition, the number of downtown Nashville residents is expected to pass 14,000 by the end of the 2018, versus only about 5,000 as of 2010. Further, the developers noted, the new headquarters for Bridgestone Americas Inc. will bring more than 1,700 workers within walking distance of the Fifth + Broadway retail center.<\/p>\n<p>501 Commerce, the project\u2019s office component, will feature on-site amenities, including a 20,000-square-foot rooftop terrace and a targeted LEED Silver sustainable infrastructure certification. Cushman &amp; Wakefield\u2019s Rob Lowe and Stewart Lyman will be leading the office leasing effort.<\/p>\n<p>The project\u2019s construction manager is Skanska.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OliverMcMillan and Spectrum | Emery have begun construction on Fifth + Broadway, a $430 million mixed-use development in the city\u2019s downtown, which will include the new National Museum for African American Music.<\/p>\n","protected":false},"author":882,"featured_media":1004173487,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21752,36077,21742],"tags":[33089,32886,35087],"class_list":["post-1004173476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-mixed-use","category-nashville-knoxville","category-latest","tag-olivermcmillan","tag-skanska","tag-spectrum-emery"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. 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