The Grafton Peek building in downtown Greenwood was purchased by Brian and Megan Yeagy in October. They plan to put a retail business, Grafton Peek Mercantile, on the ground floor, and continue hosting events in the second-story ballroom.
RYAN TRARES | DAILY JOURNAL
One of Old Town Greenwood’s most historic buildings has new owners and new life again.
The venerable brick building at the corner of Main Street and Madison Avenue has been purchased by Brian and Megan Yeagy, who plan to resurrect the ballroom event space and offer a unique retail area featuring artisan-crafted products. Work is ongoing renovating the spaces, with the hopes to have the retail portion finished this month, possibly as early as this week, Megan Yeagy said.
With the purchase final, the Yeagys are excited to be a part of the revitalization of Old Town Greenwood, as well as a piece of important city history.
“It’s not lost on us how lucky we are to have this little piece of the world. The community has welcomed us with open arms, and we want to be a big part of that community to give back,” Megan Yeagy said. “There has been such an investment in downtown Greenwood, and we want to be part of that.”
Construction on the Grafton Peek building started in downtown Greenwood in 1889, and over the years, has served as a financial center, town hall, mercantile and public center. The most recent iteration was as a ballroom and event space for weddings and other special occasions.
Megan and Brian Yeagy purchased the building earlier this year, finalizing the sale in October.
“We were looking to start a small business in the downtown Greenwood area, and had been looking for available space. We had originally planned on leasing something, but we came across this as being available and saw it as an amazing opportunity,” Megan Yeagy said.
The Grafton Peek building is not the first historic structure the Yeagys have owned. Brian Yeagy’s family was the former owner of the Slippery Noodle Inn in downtown Indianapolis; both Brian and Megan Yeagy worked at the famed downtown bar. The family also had a previous Greenwood restaurant, Hal’s Fabulous Vegas Bar & Grill on State Road 135, which was open until 2016.
As the family sold the Slippery Noodle building earlier this year, it timed up perfectly to look into the Grafton Peek building.
“That’s why this timing was just perfect. With that sale, it left an opportunity for our next steps,” Megan Yeagy said. ”It was really perfect that this came around.”
Within the multi-story structure, the Yeagys envision two distinct businesses for the downtown Greenwood community.
On the ground floor, they’re planning to open Grafton Peek Mercantile, bringing together artisans and vendors from across the area to sell one-of-a-kind handmade goods.
When the business opens this month, customers can find modern home decor from Wise Words Studio, candles from 9th Street Candle Co., unique felt goods from Stitch Me Some Mo and watercolor artwork from Lovely Homes by Skye, among many others.
“It’s all Indiana homemade gifts and goods — handmade treasures,” Megan Yeagy said.
Grafton Peek Mercantile will be the first piece of the new venture, with the Yeagys hopeful it can open its doors in time for this weekend’s holiday open house, an event dubbed “How The Grinch Discovers Old Town Greenwood.”
The upstairs event space will be available to the public in 2024, Megan Yeagy said. Contractors have been sprucing up the grand ballroom, with updates to the paint scheme and shades on the windows.
“We’re going to make some aesthetic changes. Nothing huge, just some updates around to put our personal stamp on this space. Then we’re really going to be advertising and pushing it out there working to get bookings,” Megan Yeagy said. “We’ll, of course, have it available for people to book their private events, but we’re also hoping to have some community events as well — workshops and things to get people into this space and check it out.”
