H&M Eyes Anchoring Broadway + Fifth
Swedish retailer H&M is preparing to strike a deal with the developers of Broadway + Fifth to be a retail anchor at the proposed project, which would give it a considerable boost. Nashville developer Pat Emery and San Diego-based OliverMcMillan are under contract to buy the 6.2-acre property, site of the city's former convention center, for more than $11M from Metro government.
This summer, Nashville restaurateur Tom Morales inked a letter of intent to open a new concept within Fifth + Broadway. Last month, the Nashville Business Journal reported that a $28B hedge fund from Boston, the Baupost Group, was backing the project. Overall, Fifth + Broadway is planned to include 230k SF of retail, restaurant and entertainment space, along with a 375k SF office tower and a 350-unit apartment tower. [NBJ]