Fifth + Broadway Development Project

The Metropolitan Housing and Development Agency “MDHA” is the public housing/development authority for the Metropolitan Government of Nashville and Davidson County. During initial construction planning, the MDHA was approached by private developers who asked MDHA to assist with the land development component for the planned transformational mixed-use downtown redevelopment project of Fifth + Broadway.

Due to the rapidly increasing growth in both residential and commercial enterprises in Nashville, tax-increment financing (TIF) was selected as an effective means of leveraging future tax proceeds to assist the developer in funding this complex project financing structure. InnoVative Capital, LLC acting as MDHA’s Municipal Advisor, structured and negotiated the terms of the TIF bond’s sale on behalf of MDHA. As MA, InnoVative Capital oversaw the development and funding process on behalf of its client.

The Fifth + Broadway project is located on the 5.96 acre site of the former Nashville Convention Center, which was closed upon the completion of Nashville’s Music City Center in 2013. The Project’s 1.25 million square foot mixed-use development features a vibrant live-work-play-shop environment, with combined retail, dining, and entertainment, a museum (the National Museum of African American Music) and Class A residential and office towers. The tenants of Fifth + Broad will also benefit from the site’s immediate proximity to Nashville’s prime entertainment and sports venues.