Downtown Nashville businesses account for 77%

Table of Contents

Lady A said, “I don’t know why you don’t take me downtown,” and we felt that. A second quarter market conditions report from the Nashville Downtown Partnership shows 77% of downtown businesses are locally based. Now, that’s what we call pride in place.

📊 How the stats compare

Crunch the numbers… the second quarter report shows:

  • 339 downtown dining options
  • 130 shopping retailers
  • 139 nightlife spots
  • 2.6% retail vacancy rate

Crissy Cassetty, NDP’s director of economic development, credits steady residential growth of 10% yearly as a big contributor to these numbers in a recent interview. She also states that half of all sales tax in Davidson County is collected downtown.

The numbers show that though downtown is a great place to play, people want to live and work there as well. Office vacancy has gone down from the first quarter to the second, sitting much closer to 10% now. Over 15,000 residents live downtown, keeping occupancy rates at a steady 95% from quarter to quarter + encouraging an uptick in planned residential developments 201 to be exact.

👋 Say hey to new businesses

Comparatively speaking, downtown has welcomed ~15 and counting retail tenants from the first quarter to the second. Let’s meet three of those new businesses.

  • MJ’s Chill Spot: Priding itself as the perfect place to chill, MJ’s takes beating the summer heat to the next level with FroSho — a frozen shot with various flavors + serving options.
  • The Extended Shop: This clothing boutique specializing in plus-sized women’s fashion opened its first brick-and-mortar store in Capitol View with plans to launch its online shop this fall.
  • Good Citizen Coffee: Though this coffee retailer has been roasting locally since 2018, it has expanded its Nashville footprint more recently.
More from NASHtoday