New residential, retail spaces coming to old Downtown Knoxville buildings | Business
Four new developments are in the works for the new year in downtown Knoxville.
"2013 is our most aggressive year. We've got more projects happening. We've got a lot of work going on," said Developer David Dewhirst.
Dewhirst, who has about 300 residential rental properties right now, said they are all booked.
"We turn people away everyday," Dewhirst said.
That's why his company is creating 160 new lofts downtown.
Opening first is the Armature, an 80,000 square feet of 76 residential lofts and five retail spaces.
"It's really going to add life to Jackson Avenue which has been a blighted area for so long," he said.
The Armature is set to open in 60 days. Not far behind is the Arnstein building, located on the edge of Market Square. National retail chain Urban Outfitters will fill the bottom two floors.
"We turned that space over to them just today [Tuesday]. So we think it will be open in just a few months," Dewhirst said.
The top five floors will be office space and apartments.
Over in the Old City, Dewhirst is renovating another 50 apartments in what was the White Lily flour mill for 125 years. He got the go ahead from city council Tuesday night to move forward with construction.
The White Lily project will take another year to complete, but by this summer what was Standard Wilson Glass Company will be an event venue.