
August 19, 2004
KNOXVILLE (WATE) -- Phase two of redevelopment construction on Market Square got underway Thursday afternoon. But not before entertainment officials announced a new fall concert series.
The new construction includes a new $11 million parking garage, office and retail space and condominiums. It's expected to take about a year to complete.
The garage was originally priced at $14 million. Now, Mayor Haslam says he'll apply the $3 million in savings to phase three construction, which includes a movie theatre. The money already appears in his 2005 budget.
The first phase, filled with months of setbacks, was completed in November 2003. That portion cost $8 million. [ Market Square re-opens ]
Also Thursday, A.C. Entertainment and Regal Entertainment Group announced a new weekly music series for Market Square this fall.
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The first "Autumn on the Square" show is scheduled for September 9th.
Market Square Thursday hosted a celebration of this year's Sundown in the City series.
The Market Square District Association received a check from A.C. Entertainment for $14,288, one quarter of the proceeds from Sundown.
"It's definitely raised the profile of downtown and as a place for people to come," said Andie Ray, president of the Market Square Association. "They know it's fun. It's a great environment."
"As we give to the community, the community gives back to the event," said A.C. Entertainment President Ashley Capps. "It just seemed like the right thing to do."
6 News Reporter Tearsa Smith contributed to this report.
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