KNOXVILLE, Tenn. (WATE) – One structure and a building in Downtown Knoxville are under new management and there are some changes coming for both properties. The new owners have plans to get more people to that end of downtown.
“One of the plans we have is talking to retail tenants to kind of extend it down even farther from where it is now,” Justin Cazana of Avison Young said. “Now you come out of the Embassy Suites, the Tennessee Theatre and you’ve got the museum right next to us, if we could continue to bring that down a little it farther closer to the river it will continue to elevate the exciting things happening in downtown.”
Talking to retailers is just one thing Avison Young is doing to help better the area but they also have some plans for the inside of 2 Centre Square.
“You’ll see a lot of changes in common areas, hallways, lobbies, the main entry area and you’ll also see some things that are less sexy,” Cazana said. “Replacing the HVAC system, putting in LED lights where they aren’t currently. So, there will be somethings that are hidden and some others that will be really nice and stand out.”
The new owners also acquired 500 Clinch Ave, better known as the Hilton Garage and will make that public parking area pop.
“With a lot of changes coming to downtown Knoxville, we are seeing is some parking going away thanks to new developments that are happening,” Cazana said. “The Hilton parking garage is nearly 400 parking spaces right in the middle of the central business district. We are going to come in with it’s location, really clean it up. It’s going to be completely painted and we are looking at murals to go on both the east and west side to really change the entry to Knoxville.”
Cazana also noted another big thing: “It’s called the Hilton Garage but it’s public parking. We want people to come in and know that there is parking close to downtown and close to the entertainment areas close to that generally spot.”
2 Centre Square has always been a traditional office building but is welcome to having different types of businesses take hold there. The building is currently 88% leased, so there is still a little bit of room left for other tenants.
There is a lot of new growth happening downtown with newer and younger run companies that are looking to be in the exciting areas of Knoxville. Right now, the largest employer in the downtown area, 21st Mortgage, has its headquarters in 1 and 2 Centre Square which is helping bring a lot of youth to the downtown area.