A local developer has plans for a retail hub in the rapidly growing Wedgewood-Houston neighborhood.
The 25,000-square-foot development from David Creed of Creed Investment Company is set to rise at 601 Hagan Street, aiming to become a destination for food and beverage retailers, the Nashville Business Journal reported.
Creed teamed up with Snipe Properties and Perkins Construction for the venture. The trio previously collaborated on projects including the renovation of the historic Pilcher Building on Second Avenue, and the Oak Barrel building in Berry Hill. Their Wedgewood-Houston project will feature a design inspired by mid-century warehouses and will have a greenhouse on top.
Creed does not yet own the site. The 0.84-acre property is held by a trust linked to Thomas McEwen, who acquired it for $350,000 in 2011.
After years of buying and trading land sites, Creed joined forces with Atlanta-based Portman Holdings ten years ago to develop the 15-story Moore Building, at 827 19th Avenue South, on Music Row. It is set to become a key landmark in the area, with TikTok’s Nashville office as its anchor tenant.
Creed, known for his keen eye for up-and-coming areas, is bullish on Wedgewood-Houston, a neighborhood that has been attracting significant attention from developers.
Hines is already making its mark on the neighborhood with The Finery, an office and apartment development. And AJ Capital Partners is renovating the Merritt Mansion which has sat at 441 Humphreys Street since 1840.
“I couldn’t help myself and had to get in on the fun,” Creed said.
The Urban Land Institute called Nashville a market to watch in 2022 and 2023. It has a large population of millennials and a booming tourist industry, factors that feed retail demand and development, according to Avison Young. It has one of the tightest retail markets in the country, with 3.2 percent vacancy.
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