Skanska signs additional contract with OM-SE for mixed-use project in Nashville

WCN Editorial Team 4 Jul 2018 NORTH AMERICA BUILDINGS

Swedish construction company Skanska has signed a $74m additional contract with OM-SE for Fifth + Broadway, a mixed-use development in Nashville, US.

The company said that the contract will be included in the US order bookings for the second quarter 2018.

The initial contract was announced in March 2018. Construction began in 2017 and is scheduled to be completed in May 2020.

In March 2018, Skanska and OM-SE had signed an agreement to extend their contract to build the mixed-use development Fifth + Broadway. The contract extension was valued at $163M.

The downtown project, with an expected construction cost of over than $300m, will replace the Nashville Convention Center.

The project will deliver 23,000m² of retail, food and beverage and entertainment space, including a lease signed with H&M, as well as premises for the National Museum of African American Music.

A 38,000m² Class-A office tower will be built and more than 380 residential units will be constructed in a new 41,000m² residential tower.

The project will also include multiple onsite parking garages and the renovation of existing conference centre space.

Downtown Nashville’s first mixed-use destination will offer tenants and residences direct access to shopping and dining, connectivity to an elevated Nashville food market as well as a rooftop amenity terrace that will offer panoramic views.

Skanska specializes 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.

In June 2018, Skanska had invested $128m to develop a new commercial office building in Boston, US.

Under the $76m contract, Skanska will develop and build a 12-storey, 21,000m² commercial office building with ground-floor retail, a 1,100m² public plaza, and 150 parking spaces.

The building will be located in the Drydock area of Boston’s Seaport District.

Construction began in June 2018 and is expected to be completed in December 2019.

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Image: A rendering of the Fifth + Broadway mixed-use development in Nashville, US. Photo: courtesy of Skanska.

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