What is the story about?
What's Happening?
A new residential development, Ascend at South Knoxville, is under construction near the intersection of Chapman Highway and West Governor John Sevier Highway in South Knoxville. The project, developed by Legacy Capital Partners and R&R Enterprises, involves the construction of eight buildings comprising a total of 250 apartment units. The property, located at 209 Hickory Brook Way, was rezoned by the Knoxville-Knox County Planning Commission in June 2022. The developers acquired the site for $1.8 million in November 2022. The complex will cover 342,000 square feet and include amenities such as a clubhouse, pool, fitness center, bar, and meeting rooms. The first phase of construction is expected to be completed by 2025, with a second phase scheduled for completion 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 250 new units, the complex will provide much-needed residential options for the local community, potentially easing housing shortages. The inclusion of amenities like a fitness center and pool enhances the appeal of the complex, making it attractive to potential residents. This project also represents a substantial investment in the local economy, with construction and future occupancy likely to create jobs and stimulate economic activity. Additionally, the development could lead to increased property values in the surrounding area, benefiting existing homeowners.
What's Next?
As construction progresses, local stakeholders, including residents and businesses, will likely monitor the development's impact on traffic and infrastructure. The completion of the first phase in 2025 will be a key milestone, potentially influencing further residential and commercial projects in the vicinity. Community members may also engage with developers and local authorities to address any concerns related to the project's impact on the neighborhood. The success of Ascend at South Knoxville could set a precedent for future developments in the region, shaping the area's growth trajectory.
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