Southeastern Underway on Development of $160M Mixed-Use Project in Knoxville
Southeastern is currently developing a mixed-use project on the 23-acre redevelopment formerly known as Baptist Hospital. The Augusta, Georgia based company demolished 800,000 SF of the hospital campus to make way for a live, work, play mixed-use development.
One Riverwalk is now home to the Regal Cinema Corporation. Regal redeveloped 180,000 SF former medical building on the Tennessee River. In addition, Southeastern is developing a 1,600 foot Riverwalk with an entertainment event plaza. A 300-unit luxury residents’ apartment project overlooking the Riverwalk and Tennessee River is currently being constructed by the company as well.
University Housing Group purchased 5 acres within the development. This company is currently developing student housing on the river.
Phase II will consist of a Home 2 Suites Hotel; the renovation of an existing 50,000 SF office building which will be converted to restaurant and retail space; 10,000 SF of retail; and reconfiguration of Blount Avenue to include wider sidewalks, bike paths and landscaped medians. Southeastern will demolish a 25,000 SF office building and is currently in discussions with national and local restaurants to purchase this pad.
The public Riverwalk, Event Terrance and Blount Avenue improvements were all part of a TIF agreement between Southeastern and the City of Knoxville. Southeastern will deed over the Riverwalk and public event terrace to the city of Knoxville following completion of the project.
Regal Cinemas will open in the fall of 2017; One Riverwalk Apartments will open starting in November 2017 with full completion in March of 2018; Student Housing Units will open in the Summer of 2018; Home 2 Suites Hotel will open in the Fall of 2018; all public improvements will open in the Summer of 2018 and restaurant/retail space will open in the Fall of 2018.