Hines Launches Redevelopment of 429 Houston, Signs Four New Restaurant Tenants In Wedgewood Houston

(NASHVILLE) – Hines, the global real estate investment, development and property manager, in partnership with Cresset Partners, a private investment firm, today announced that it has launched construction for the redevelopment of 429 Houston, an approximately 30,000-square-foot industrial and retail mixed-use property located in Nashville, Tennessee’s vibrant and growing Wedgewood Houston neighborhood. The redevelopment will transform 429 Houston—which the company purchased in December 2019—into a dedicated retail property, establishing it as a premier destination for restaurant and retail tenants and adding a large, wrap-around outdoor patio, additional square footage, parking, new building systems, site infrastructure and extensive landscaping and hardscaping.

The firm has also signed four new restaurant tenants, two at 429 Houston and two at The Finery, Nashville’s newest transformative mixed-use campus which includes multifamily apartments, creative office space and carefully curated retail. The new eateries include:

  • Bodega Taqueria y Tequila (4,384 SF at 429 Houston, expected to open by mid-2025);
  • Aba (8,979 SF at 429 Houston, expected to open by mid-2025);
  • Dos Santos (3,727 SF at The Finery, expected to open October 2024); and
  • Sushi Row (3,049 square feet at The Finery, expected to open Q1 2025).

Existing 429 Houston tenant Jackalope Brewing Company will stay in its current 16,200-square-foot space and remain open throughout the redevelopment.

David Lawrence, managing director at Hines, said, “Wedgewood Houston has become a sought-after destination for world-class dining and retail brands, and the redevelopment of 429 Houston will help ensure that the property remains part of the neighborhood’s compelling offerings for years to come. The new eateries there and at The Finery will be stellar additions to the diverse dining optionality and local favorites already thriving in the area, as well as the prominent restaurants—including Pastis and Momotaro—that will be joining the neighborhood’s dynamic retail lineup in the near future.”

Bodega Taqueria y Tequila doubles as a fast-casual Mexican restaurant offering an array of Mexican street food during daytime hours and a prominent nightlife scene in the evenings, serving up award-winning cocktails. The brand has been nationally recognized as one of the Southeast region’s most popular culinary and nightlife destinations. Aba, a Mediterranean restaurant with a California influence, first opened in Chicago’s historic Fulton Market District, and its menu offers a modern approach to Mediterranean cooking as well as beverages that showcase spirits and rare wines from lesser-known regions. It was named “Best New Restaurant” by the Chicago Tribune Reader’s Choice Dining Awards, and also has locations in Austin and Miami.

Jason Wallenta, Co-Founder/Owner of both Dos Santos and Sushi Row, is bringing two successful concepts to The Finery campus. Dos Santos will bring the flavors of Mexico’s Yucatán region to Nashville, with tasty menu items such as tuna poke nachos, steak arrachera tacos and akumal bowls. Sushi Row curates only the best ingredients from around the world for its sushi and serves it with a side of hip-hop and ice-cold Japanese beer.

“We are beyond excited to call Nashville our new home,” said Wallenta. “More specifically, the Wedgewood Houston neighborhood which has been so welcoming. Community is so important to us and that is why we are honored to be a part of this culinary endeavor.”

Soho House Nashville, an exclusive membership community with a wide range of amenities, is located directly adjacent to 429 Houston and has also been a catalyst for additional development in the vicinity. Existing local favorites on Houston Street include Bastion, an upscale tasting menu restaurant and neighborhood bar whose chef, Josh Habiger, was a James Beard Award finalist in 2023; Americano Lounge, a 1930s-inspired lounge offering craft cocktails and craft coffee; and Earnest Bar & Hideaway, an Ernest Hemingway-inspired restaurant serving refined tavern classics and craft cocktails.

The Finery is comprised of 383 multifamily units, which had its first residents move in earlier this month, and T3 Wedgewood Houston, a 200,000-square-foot heavy timber office building that is one of the most environmentally friendly and sustainable developments in the greater Nashville area. The two developments together encompass approximately 40,000 square feet of retail creating a vibrant and neighborhood-centric ground plane co-mingled with over one acre of courtyards, plaza and walkable public space.

The Wedgewood Houston submarket has seen significant in-migration in the past few years and is expected to continue its growth trajectory. The neighborhood is known for its unique creative scene, prime location near downtown Nashville, prestigious employers and retail offerings.

About Hines

Hines is a leading global real estate investment manager. We own and operate $93.2 billion1 of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 30 countries draw on our 65-year history to build the world forward by investing in, developing, and managing some of the world’s best real estate. To learn more, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization and RIA AUM as of December 31, 2023.

About Cresset Partners

Cresset Partners is a private investment firm focused on providing its investors with direct access to investment opportunities in private companies, real estate, and sponsor products. We focus on building outstanding, lasting partnerships by investing permanent capital, resources, and expertise to create sustainable value. We believe that long-term investing creates better alignment and reduces risk and inefficiencies, leading to better outcomes for all shareholders. Cresset Partners was founded in 2018 and has more than $3 billion in commitments across real estate, private equity, private credit, and venture capital. Learn more at https://cressetpartners.com/.