NASHVILLE (WSMV) - We’ve all noticed that Nashville is experiencing tremendous growth whether it be shopping, the job market or hot new restaurants. But there’s one area where the growth is actually causing some heartache.
In the last 30 days, the community of Bellevue has seen five local businesses close up shop mainly due to increasing rent.
The latest casualty: Drake Day Spa off of Hwy 70 South. A letter went out to customers last month saying that due to a 40% increase in leasing, they just couldn’t go on.
The owners of Crumb de la Crumb and Capitol Coffee Company announced they were closing last month, which stunned their loyal customers of over 9 years. Crumb de la Crumb is hoping to find a new home soon. The owners want to stay in Bellevue but they say the rent is outrageous everywhere they’ve looked.
Halal Guys, a middle eastern cuisine restaurant in One Bellevue Place, had barely been open for a year when diners saw the restaurant cleared out and “permanently closed” donned across their contact info on Google. Halal Guys is looking to re-open another location off of Charlotte Avenue in a more affordable spot.
With the competition of big box stores and online shopping, local brick and mortar sales just can’t keep up with the increasing demand in leasing space.
Residents say they’re sad to see local business being forced to close up due to high rent prices.
“When you make things affordable for the people, you’re able to have longevity in the business world,” says Maurice Dalton, a Bellevue resident. “Business will survive and economy will begin to grow. People continue to prosper and jobs continue to be produced.”
Residents have noticed the changes not just in businesses, but also in the cost of living and home prices.