NASHVILLE, Tenn. (WKRN) – IKEA has confirmed the company will not build a store in Antioch, Tenn.
Nashville Mayor David Briley on IKEA’S decision not to build in Antioch:
"We are disappointed that IKEA will not be opening its store in Antioch. We understand that the company is moving away from suburban retail outlets. The Century Farms development is important to Antioch and Nashville at large and we will continued to work with the developer to ensure adequate infrastructure is in place for the anticipated development."
Latisha Bracy with IKEA North America Services sent this statement Wednesday morning:
"While this is an extremely difficult decision, we will not be moving forward with our plans to build a store in Nashville, TN. We thank the city and the developer for their understanding of this recent decision."
Bracy says the retail environment is rapidly changing and the company is creating a new business model,
"We are looking to expand to more urban city centers to be more accessible to more consumers. As a result, some of our expansion plans may change, but at the same time, we are also investing in our e-commerce and services to ensure customers can access IKEA no matter where they are."
While some people think this is a big blow for development plans in Antioch, developers are confident in the future of the 300+ acre Century Farms development.
In a letter to Friends of Century Farms Wednesday, the developers said:
"Although we are disappointed to learn this, we are equally excited about the numerous projects and types of development that are in the pipeline for Century Farms, including national retailers and restaurants, hospitality and commercial uses."
"Century Farms is a fait accompli – having secured necessary land acquisition, approvals and public involvement in support of the $1.7 billion in estimated private sector investment."
The letter noted that the project’s momentum is based on its myriad offerings, strategic location, and dynamic master plan and Nashville’s growth:
"Importantly, a development of the magnitude of Century Farms would never hinge on the plans of one retailer as our team always anticipates that global issues unrelated to our property can impact plans related to development."
As News 2 reported Tuesday, Nashville council members suspected the IKEA deal was falling through a few days ago.
It was one year ago that plans to open an IKEA store crystallized.
The plans called for a 300-acre development between Cane Ridge and Old Franklin roads, about 13 miles from downtown Nashville. Groundbreaking was set for early 2019.
This story is developing. Refresh this page for more details as they come in.