Skanska signs contract extension for mixed-use project in Nashville, USA, for USD 163M, about SEK 1.3 billion
Skanska and OM-SE has signed an agreement to increase their existing contract to build a mixed use development Fifth + Broadway in Nashville, USA. The contract extension is worth USD 163M, about SEK 1.3 billion, which will be included in the US order bookings for the first quarter 2018.
The downtown project Fifth + Broadway, with an expected overall construction cost of over USD 300M, will replace the Nashville Convention Center. The project will deliver about 23,000 square meter of retail, food & beverage and entertainment space, including a lease signed with H&M and premises for the National Museum of African American Music.
An about 38,000-square-meter Class-A office tower will be built and over 380 residential units in a new 41,000-square-meter residential tower. The project also includes multiple onsite parking garages and the renovation of existing conference center space. As part of downtown Nashville’s first mixed-use destination, tenants and residences will have direct access to the shopping and dining, connectivity to an elevated Nashville food market as well as a rooftop amenity terrace that features dramatic views.
Construction began in 2017 and is slated for completion in March 2020.
Skanska is one of the leading construction and development companies in the USA, specializing in building construction, civil infrastructure, public-private partnerships and commercial property developments in select US markets. Skanska USA had sales of SEK 59 billion in 2017 and has approximately 9,500 employees.