Plans for a Walgreens convenience store on Lower Broadway will not be moving forward, according to News 2 sources.
Talks of the potential store at the site of Trail West at the corner of 3rd Avenue and Broadway first came to light in February and have since generated a great deal of buzz.
News 2 spoke with Richard Jones, the real estate broker for the developer interested in putting a Walgreens on the property.
Jones told News 2 the chain is pulling out because they ran out of time before they could complete their due diligence by a deadline of June 30.
Butch Spyridon with the Convention and Visitors Bureau said from the beginning, the issue wasn’t about keeping a Walgreens out of downtown Nashville, but more about protecting the integrity and history of Lower Broad.
“We’ve got this little island that says something special and different is here. If we care about the five billion dollars that visitors spend, we should care about how to protect it,” said Spyridon.
News 2 has learned there is interest in the building from a group of local investors but there’s no word yet on what may eventually end up there.
Changes are being made to an ordinance that would prevent large corporations from opening in the historic downtown area.
Sources say revisions should be complete this week and the issue will go before the Metro Council in July.
- June 18, 2014: Mayor urges ‘something in the middle’ on Lower Broad Walgreens issue
- June 3, 2014: Public offers opinion on Lower Broadway Walgreens
- May 22, 2014: Metro planning commission rejects restrictions on chain companies
- May 15, 2014: Metro Council considers ‘Music City Brand’ bill
- April 15, 2014: Some fear Lower Broad Walgreens could lead to street drinking
- April 10, 2014: Lower Broadway Walgreens talk remains just that
- Feb. 18, 2014: Rumored Lower Broad Walgreens stirs wounds of scuttled hotel