Earlier this month, we reported that The Nashville office of Holladay Properties, led by Allen Arender, purchased The Factory at Franklin. They stated in a release they aim to create what the new owners believe will be a national model for adaptive re-use of early 20th Century industrial structures.
For some, that was good news and for others, you had questions and concerns about the property that was built back in 1929. Here is what we’ve learned so far:
- First, we asked if the water tower will be repainted from the current green color to the original color of an orangey color or any color to match more with the property.
“We agree that water tower paint ought to look like a water tower paint too! We will see what is possible and do our best to make the iconic water tower speak its own language again,” said Allen Arender owner/developer with Holladay Properties.
- What about my favorite coffee place, taco place or any other tenant, will they lose their lease?
“Current tenants have a variety of long- and short-term contracts, and we will honor them,” said Arender.
- Will any of the buildings at the Factory see demolition or will the entire Factory be torn down?
“Definitely not. The Factory campus has many beautiful structural components like all of our other projects. We expect to bring new energy and activation while keeping the bones,” said Arender.
- Will The Factory close during renovations?
“No, we plan to keep the Factory open during renovations. Different parts of the Factory will be closed off as the work proceeds, but the campus will remain open throughout the process.”
Those who frequent The Factory at Franklin will start to see some of the interior changes this November. Work on the Franklin Road side of the main factory building is expected to start the first quarter of 2022.
- What about The Franklin Farmer’s Market?
A spokesperson for the Franklin Farmer’s Market said that they met with Holladay about two months ago and that the company didn’t foresee any big changes to the Farmer’s Market or structures related to it. The idea is to actually make the current buildings flow better and to have more functional space.
Will there be space for new tenants?
Right now, there is a lot of wasted space within the building. There are stairs in the central court inside that lead to a second floor where stores have attempted to open, but few shoppers went up to the second level, so the stores eventually closed.
The new developers plan to increase the amount of office space in the building and create additional space for restaurants and shops. They have described the finished space has feeling like a “mini-city’ with alcoves and open spaces to explore.
The Factory at Franklin is located at 230 Franklin Road.