What is the story about?
What's Happening?
A new residential development, Ascend at South Knoxville, is currently under construction near the intersection of Chapman Highway and West Governor John Sevier Highway in South Knoxville. The project, which includes eight buildings, is being developed by Legacy Capital Partners and R&R Enterprises. The property was rezoned by the Knoxville-Knox County Planning Commission in June 2022 and acquired for $1.8 million in November 2022. The complex will feature 250 units, ranging from one to three bedrooms, and will span 342,000 square feet. Amenities will include a clubhouse, pool, fitness center, bar, and meeting rooms, with 450 parking spaces available. The first phase of construction is expected to be completed in 2025, with a second phase finishing in 2027.
Why It's Important?
The development of Ascend at South Knoxville is significant as it addresses the growing demand for housing in the area. With its strategic location near major highways, the complex is poised to attract residents seeking convenient access to urban amenities while living in a suburban setting. The project also represents a substantial investment in the local economy, potentially creating construction jobs and boosting local businesses. Additionally, the inclusion of various amenities suggests a focus on community building and enhancing the quality of life for future residents. This development could set a precedent for future residential projects in the region, influencing urban planning and housing strategies.
What's Next?
As construction progresses, stakeholders will likely monitor the project's impact on local infrastructure and traffic patterns. The completion of the first phase in 2025 will provide insights into the market's response to the new housing options. Local government and planning bodies may also evaluate the project's success in meeting housing needs and its influence on property values in the area. Community feedback will be crucial in shaping future phases and similar developments. Additionally, the project's success could encourage further investment in the region, potentially leading to more residential and commercial projects.
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