November 10, 2015
Name of $400M Broadway Project Revealed
Fifth + Broadway will be the name of the mixed-use development planned for the Nashville Convention Center site downtown.
Developers OliverMcMillan and Spectrum | Emery also have hired veteran mixed-use developer Burgin Dossett to oversee the $400 million redevelopment project.
The news comes as the development team faces a year-end deadline to close their purchase of the 6.2-acre site. They have four opportunities to extend that deadline by three months, but would have to pay $250,000 each time to do so.
OliverMcMillan and Spectrum | Emery touted Tuesday's announcement of the Fifth + Broadway name and filling of a key project leadership role as signaling ramped up leasing and planning activities in advance of starting construction.
OliverMcMillan's CEO Dene Oliver said the Fifth + Broadway name, which is derived from the intersection that will serve as the front gate for the planned development, elicits authentic feelings for Nashville.
“Nashvillians know it as the epicenter of activity that makes their downtown tick, visitors see it as the gateway to Lower Broadway they come from all over to experience," he said, adding the new development would complement attractions near that corner including Bridgestone Arena, Ryman Auditorium and local bars and restaurants. "With our Fifth + Broadway project, you can add people crossing those streets to go to shop, to work and create, to live."
Under the developers' plans, Nashville Convention Center would be razed to make way for Fifth + Broadway. Components will include retail, restaurant and entertainment space, the National Museum of African-American Music, a Class A office tower and a residential tower.
Dossett brings more than 30 years of experience in development of retail, office, residential and entertainment facilities to his role as a regional manager with OliverMcMillan charged with overseeing the Fifth + Broadway project.
He most recently was founder and principal at Nashville-based real estate development and program management firm the Ashwood Co., overseeing projects such as the Parisian Resort and St. Regis Hotel in Macau, China.
Dossett's background also includes serving as senior vice president for the Tennessee division of Crosland, where he managed construction of the Terrazzo in the Gulch condo tower. He also was involved with early master planning for the North Gulch site, which Northwestern Mutual later bought and picked Boyle Investment as its development partner for the Capitol View mixed-use project..
"His knowledge and expertise will allow us to flawlessly execute our one-of-a-kind vision for downtown, further strengthening our team on the ground as we raise the bar for what downtown Nashville has to offer residents and visitors,” said Pat Emery, Spectrum | Emery's president.
Link to the original article here.