Updates on Development Projects and a Major Event Announcement

This blog happened thanks to a good friend who occasionally drops blog material into my lap. The Central Business Improvement District board of directors met yesterday and updates were given on several projects in which they made an investment. Here’s what was reported on each project:

The developers of the JC Penney Building closed on their construction loan last week, demolition has been underway for a couple of weeks and architects are producing their drawings. They plan to apply for their building permit in late December with construction to commence as soon as it is approved, with the expectation that the construction will be finished by the end of 2014. “The Alley,” a bowling company has signed a lease for the bottom floor.

The project at Jackson Terminal is still in the very early stages with preliminary drawings underway. This project is applying for a National Park Service grant and that can be quite time consuming and slow to be approved.

The Medical Arts Building project is farther along than either of the others, with construction moving along rapidly. The external work has been completed. And I’ll add parenthetically, that they did a beautiful job. The building looks better than I’ve ever seen it. On the interior, they are now to the point of laying flooring and installing cabinetry. The building will open in phases, which the first units expected to be ready in February, 2014. As these lower units are becoming occupied, the upper floors will continue to be built out. A model unit should be ready within the next couple of weeks and I hope to bring you pictures of that. They have launched a web site where you will find floor plans, amenities and more.

Finally, it has been confirmed that Knoxville will host the Big Ears Festival once again. Slated for March 28-30, the event started in Knoxville in 2009 and repeated in 2010 before disappearing for the last two years. It is difficult to specify the type of music the festival brings to bear. Wikipedia helpfully suggested it is “Indie rock, Classical music, Alternative rock, Minimalist music, Jazz, Metal, Electronica,” and it is. Avant Garde comes to mind. I wasn’t present today when Ashley Capps of AC Entertainment spoke to the CBID, but I understand he said something about where pop music meets classical music with a little performance art mixed in.

Lest you think this is only for the fringes, you should know that the 2010 festival attracted press to Knoxville from the San Francisco Chronicle, the New York Times and Rolling Stone magazine. In fact, Rolling Stone pronounced it, “arguably the classiest, most diverse festival in the country.” The events sold out and Ashley has promised to bring artists of the highest stature who he feels will fill the Tennessee Theatre. The economic impact to downtown should be significant and the cost of the festival is being underwritten by the Aslan Foundation via the CBID.