A pair of East Nashville residents are hoping to foster improved retail growth in the area with the creation of a new "idea hatchery."
Bret and Meg McFadyen, owners of Art and Invention Gallery, announced this afternoon that they have launched The Five Points Collaborative, a collective of small modular buildings being constructed at 1108 Woodland Street. The McFadyens plan "to encourage entrepreneurial small businesses by providing small rental spaces with short term leases at a fair price."
Meg McFadyen told NashvillePost.com the couple has already received a great deal of interest in the spaces. "Mostly its small gift boutiques and art-type shops," she said.
McFadyen said there have also been inquiries from some service businesses, as well, but that the primary focus of the project is on growing retail businesses in East Nashville community. In the announcement for the collaborative, the McFadyens further explained their idea as "an ideal solution for developing empty lots in vibrant, or up and coming, parts of Nashville."
Because the buildings are small and modular, they create "an instant business community" but can be easily moved or sold if a property owner decides to move into a permanent structure.
East Nashville residents for more than a decade, the McFadyens are also the founders of the Tomato Arts Festival and the I Dream of Weenie hotdog stand, which they recently sold.