T
he Wedgewood-Houston neighborhood is experiencing a surge of development activity, with a new retail hub in the works. The project is spearheaded by David Creed of Creed Investment Company, who has teamed up with Snipe Properties and Perkins Construction to bring the vision to life. The trio has previously collaborated on projects such as the renovation of the historic Pilcher Building on Second Avenue and the Oak Barrel building in Berry Hill.

    The new development will be a 25,000-square-foot space located at 601 Hagan Street, designed to attract food and beverage retailers. The design will draw inspiration from mid-century warehouses and will feature a unique greenhouse on top. Although Creed does not yet own the site, the property is held by a trust linked to Thomas McEwen, who acquired it for $350,000 in 2011.

    Creed's interest in Wedgewood-Houston is not surprising, given his track record of identifying up-and-coming areas. He has also collaborated with Atlanta-based Portman Holdings to develop the 15-story Moore Building on Music Row, which is set to become a key landmark in the area with TikTok's Nashville office as its anchor tenant.

    Other developers are also making their mark on the neighborhood. Hines is developing The Finery, an office and apartment project, while AJ Capital Partners is renovating the Merritt Mansion, which has been standing at 441 Humphreys Street since 1840. Creed's enthusiasm for the area is evident in his statement, "I couldn't help myself and had to get in on the fun."

    The Urban Land Institute has identified Nashville as a market to watch in 2022 and 2023, thanks to its large population of millennials and booming tourist industry. These factors contribute to high retail demand and development, according to Avison Young. The city's retail market is one of the tightest in the country, with a vacancy rate of just 3.2 percent.