South Knoxville Waterfront plan revealed

South Knoxville Waterfront plan revealed

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The former Baptist Hospital site on Knoxville's South Waterfront will soon take a new shape. The former Baptist Hospital site on Knoxville's South Waterfront will soon take a new shape.

KNOXVILLE (WATE) - The City of Knoxville announced plans Thursday for the South Knoxville Waterfront development.

The $165 million plan will transform the former Baptist Hospital site along Knoxville's South Waterfront into luxury apartments, student housing, a hotel and restaurant as well as retail and office space.

Demolition and construction are scheduled to begin in early 2014.

"I am thrilled that Blanchard & Calhoun Commercial is moving ahead with their plans for this very important property along our South Waterfront," Mayor Madeline Rogero said in a prepared statement. "This will be a terrific boost to the economy of South Knoxville and the city as a whole."

The project will be paid for partially by a tax-increment financing (TIF) transaction, which will direct $22 million in new city and county property taxes over a 20-year period toward the project.

The TIF would be authorized by an amendment to the existing Knoxville South Waterfront Redevelopment and Urban Renewal Plan.

A public hearing on the TIF proposal has been set for 4 p.m. on Thursday, Oct. 10 at the Knoxville's Community Development Corporation offices, 901 N. Broadway.

 


 

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