The space is being split in two. One side will be occupied by Old Navy, a clothing store for women, men, girls, boys and babies. The chain is owned by Gap Inc. The other side will host Five Below, a discount shop aimed at teens and pre-teens with merchandize that sells for $5 or less.
Homewood Mayor Rich Hofeld said the new stores would be a good fit for the village. He said village officials learned about a year ago that Joann Fabrics would not be renewing its lease, and they worked with the shopping center management company to find suitable new tenants.
Hofeld said he thought the size of the space was a factor in the Joann Fabric’s decision. It was too big for the store’s needs. He said dividing it into two stores should address that issue.
He said the companies have not provided a specific timeline for opening the new stores.