For the crust: Put the flour, granulated sugar and salt in the bowl of a food processor and pulse to combine. Add the shortening and pulse until it looks like cornmeal. Add the butter and pulse until the butter is about the size of a pea. Add 4 tablespoon ice water and pulse until the dough starts to come together but is still crumbly (add the remaining tablespoon water if necessary). Divide the dough into 2 pieces, one made from a third of the dough and the other from the remaining two-thirds of the dough. Form each into a disc and wrap in plastic. Refrigerate for 30 minutes or up to overnight.
For the peach filling: Combine the peach wedges, light brown sugar, quick-cooking tapioca, cinnamon, vanilla extract, nutmeg, salt and lemon juice in a large bowl and toss to coat. Set aside.
Lightly butter an 8-inch springform pan. On a lightly floured surface, roll the larger piece of dough into a 14-inch circle, about 1/4-inch thick.
Roll the dough onto a rolling pin, then unroll it into the pan, patting it in gently, leaving a 1-inch overhang. Pour in the filling.
Roll out the other piece of dough into a 10-inch circle about 1/8-inch thick and place it over the filling; press the crust edges together and trim any excess, leaving a 1-inch overhang. Roll up or pinch the overhang to seal.
Place a foil-lined baking sheet on a rack in the lower third of the oven and preheat to 450 degrees F. Wrap an oiled, wide band of foil around the edge of the pan like a collar to protect the crust. Make slashes in the top of the crust and chill the pie 30 minutes.
Place the pie on the foil-lined baking sheet and immediately reduce the oven to 400 degrees F. Bake the pie for 1 hour. Remove the foil band, brush the crust with heavy cream and sprinkle with some granulated sugar. Continue to bake until golden brown, about 45 minutes more. Let cool 1 hour, then carefully remove the edge of the pan. Let cool completely, about 1 more hour, before slicing.
When measuring flour, we spoon it into a dry measuring cup and level off the excess. (Scooping directly from the bag compacts the flour, resulting in dry baked goods.)
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