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New retail/housing development may be coming to the Strip

5:18 PM, Jun 6, 2013   |    comments
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Knoxville city planners hope a new $18 million dollar development will be the first of many upcoming changes for the Cumberland Avenue Strip.

If all goes well, this latest project will kick start this month.

The deal calls for a six-story building that will be a mixed use complex, and it's a kind of plan that goes hand-in-hand with the city's large scale vision for the future of the Strip.

The complex is set to go at the current site of the BP station on Montcastle.   Five levels will be student apartments, 59 units in all.

The first floor will have retail space, and there will also be parking underground.

The city is working on final details involving tax incentives for the developer.

City planners believe this project, along with other construction projects already underway, signals the start of something new for the Strip.

"We're to get something coming out of the ground along with the work that's gone on at the Hilton Garden Inn on up the street,  going on down the street at the University Commons. we feel like there's a real exciting future for Cumberland Avenue," said Bob Whetsel with the Knoxville Office of Redevelopment.

If all goes as planned, the developer will start work on the new complex next month, and it should be complete by fall of next year.
The plans also fall in line with the city's Cumberland Avenue Redevelopment Plan.  That's where they're re-doing the landscaping, the lanes, and some parking along the strip.

Phase one of that begins late this year.

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