KNOXVILLE (WATE) – Knoxville officials broke ground on the new Regas site in Downtown Knoxville.
The new mixed-use development will cost over $36 million. When completed, the building will house 101 luxury condo units as well as 20,700 square feet of restaurant, retail and entertainment space. Developers say more than one-third of the condo units have been pre-sold.
“We’ll have a real neighborhood feel to our development, but it’s going to be a connector between downtown and downtown north,” said Joe Petre with Conversion Properties. “We think that’s really significant and we think in 3 to 5 years you’ll see this area really, really change. This will be kind of a new center. You’ll have Market Square and now Regas Square.”
There is no word on when the Regas Square property will be completed.