In case you were wondering, the pandemic isn’t slowing down Nashville’s commercial real estate boom. 🏗️️
The city was recently ranked as one of the 10 best commercial real estate markets in the country + commercial construction permit values set a record of $2.85 billion last year.
However, not all commercial projects are starting from scratch these days. Many developers + local business owners are embracing adaptive reuse to breathe new life into old structures.
What is adaptive reuse? Simply put, this process involves repurposing existing buildings for modern uses while retaining their historic integrity. This could mean transforming an old train station into a hotel or converting a former sock factory into a modern, mixed-use complex. Sound familiar?
What’s happening now? One of the latest projects to tackle adaptive reuse is Paseo South Gulch, a soon-to-be “micro-district” that involves renovating 2 buildings + constructing 2 new residential towers.
New York-based commercial real estate firm SomeraRoad, which has established a second headquarters in Nashville, is refurbishing the original bow truss roof and brick facade of the former Antique Mall + updating the Bill Voorhees Co. building with new windows and a glass rooftop addition. Both spaces are expected to open this summer and offer a more than 80,000 sqft of office and retail space combined.
The big picture: It’s worth noting that adaptive reuse projects are going on all over Music City. Smokin Thighs will open a second location in May at former brake repair shop Wilkie’s Safety Lane at 4400 Charlotte Ave. + Peg Leg Porker’s Carey Bringle is repurposing an old gas station in the Nations for his next concept, Bringle’s Smoking Oasis.
Also of note: Nashville-based Anchor Investments will open The Gallatin Hotel in May, and just as its sister hotels The Russell + 506 Lofts are adaptive reuse properties, the building was previously home to Eastside Church of Christ built in 1925.
Worth mentioning: Will we see more of these projects taking shape? Earlier this year, the city’s 49-member sustainability advisory committee released its first report on Nashvile’s climate change and mitigation action plan + it recommends the city incentivize adaptive reuse projects to reduce unnecessary waste involved with demolishing buildings.
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