Knoxville, Tenn. — Construction is underway on Southeastern Development’s One Riverwalk, a $160 million mixed-use project in downtown Knoxville.
The company demolished 800,000 square feet of the former Baptist Hospital to make way for the project. Upon completion, the 23-acre development will include a 300-unit apartment community that is slated to open in November; a student housing community; a new hotel; and various retail and office buildings. University Housing Group purchased five acres within the project to develop the student housing community, servicing students attending the University of Tennessee. The student housing units are slated to open in summer 2018.
Regal Cinema Corp., one of the world’s largest theater chains, redeveloped a former 180,000-square-foot medical building on the site, with plans to relocate its corporate headquarters to the development this fall. Phase II of the project will bring a Home2 Suites Hotel, slated to open in the fall of 2018; the renovation of an existing 50,000-square-foot office building that will be converted to retail and restaurant space; 10,000 square feet of new retail space; and the reconfiguration of Blount Avenue to include wider sidewalks, bike paths and landscaped medians. Public improvements are slated to debut in summer 2018, and restaurant and retail space is expected to open in fall 2018.