Downtown real estate company changing hands, talks future of Knoxville

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KNOXVILLE (WATE) – A Knoxville real estate company with more than four decades of history is changing hands. A new person is now in control at Wood Properties.

“I started with Pat Wood in 1972 and a few years later we formed Wood Properties,” said Jerry Daves.

Daves has been at the head since the beginning, but now he is handing over the reigns to another, George Brown.

“I’m really excited. This company has got such a great history in this community. The reason I came to work here back in 2008 was because I knew of the company growing up in Maryville, just knew the reputation, knew the character,” Brown said.

In his years with the company, Daves has seen a lot of changes not only in the real estate market but in the city of Knoxville itself. Commercial and residential real estate booming downtown.

“There’s been a lot of retail development, been a lot of development out west obviously, but downtown has really surged in the last decade,” he said.

That is a change from not so long ago.

“I would walk out on Market Square back in ’99-2000 and see all these boarded up buildings on Market Square and think, ‘Gosh look at these beautiful buildings. Why are they sitting here empty? Why is it like this?'” Brown said.

While Downtown Knoxville has come a long way in the past several decades they say they still want to see more growth and more positive changes in here in the downtown area.

“We are much more on the radar than we used to be, and that’s retailers, restaurants,” Brown said.

Brown believes the next wave of development will happen in places like North Central, Magnolia Avenue, Sevier Avenue, and South Knoxville.

Daves sees more development happening in other areas too.

“It’ll move north and northwest I think as far as continued development in the geographic area and of course it continues to grow west,” Daves said.

So as Brown takes over a company that has a legacy in our city, he is hopeful for the future of it and of Knoxville.

“It’s just so important for tourism, for residential, for the business growth in Knoxville. Downtown needs to be a great place and it is,” he said.

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