Knoxville Developer Proposes $75 Million Dollar Residential and Retail Project for S. Broad St.
CHATTANOOGA, Tenn. (WDEF) — Plans have been released for one of the largest developments in recent years on south Broad Street.
The 75-million dollar project includes space for retail, apartments, townhomes and a park.
An Artist rendering shows an ambitious project spanning from Broad Street all the way to Delong Street, about 3/4 of the way to Alton Park Blvd. It encompasses about 20 acres, one acre of which will be devoted to a public park.
The developer, Knoxville based Neyland and Associates, is planning to put $75 million dollars into the project, but is also planning at get a lot of public input first.
Neyland plans to build up to 300 apartments in four buildings, add a pool, fitness center, and other amenities. They also plan to build more than 50 single family townhomes on the property…starting at 200-thousand dollars.
“It’s going to reflect the character of the area, and the plan that was initiated some years ago, for how they wanted this area to look and with all the other development that’s coming this way, it’s just going to enhance the quality and the experience of being on South Broad,” said District 7 Councilman, Erskine Oglesby.
The developer is also proposing a River-walk extension that would run all the way from Broad Street, along 33rd Street to the end of the property line.
“We had even talked about, even before they came here, about creating a greenway where, as you go from one area to the next that you have an opportunity maybe to stop at a pub and stop and get coffee,” said Councilman Oglesby.
So, what’s next?
“The next step, they’ve already met with several groups, now they want to have a big community meeting of those that live on the Broad Street area to make sure that they have a buy in, so there’s some more community meetings before they’ll actually come to the next step,” said Oglesby.
The developer must also consult with the Tennessee Department of Environment and Conservation, since part of the land sits on a brownfield site.
Councilman Oglesby says he hopes the project could be underway in less than a year.
Other projects nearby on Broad Street include, site preparation, which is already underway for a new home for a pet hospital in the former Long John Silver’s location, and further down Broad Street, a long awaited Publix is still in the planning stages.