The Revival, 825 Locust Street Suite 103, Knoxville, August 2016
“The Revival” has opened at 825 Locust Street, Suite 103. The residential unit is available for short-term lease as an event space or for single or multi-night stays ($500 a day, $600 a day with a two day minimum for football weekends). At 2300 square feet and open in design, it’s perfectly set up for a weekend getaway or a fun night in the city for a reception or party. In just a few days on the market, it’s already leased for multiple weekends and has been used for a birthday party, a reception and a sweet sixteen party.
There was some chatter recently on Facebook about the fact that the space, which is a street-level unit, has been made into a residence. Urban design would suggest this is not the best use of a space facing the sidewalk. It’s in the Medical Arts Building, which was successfully transformed from offices to 49 apartments in 2014. I took you inside for a look before the transformation and after the apartments were completed. The commercial use, like most issues discussed on Facebook, is a bit more complicated than one might assume.
For two years, no one leased suite 103 for retail. Previously the home of a series of restaurants, it would be difficult to use for that purpose today due to grease interceptor requirements and its isolation from other retail. Its location would require just the right kind of business and no one stepped up to propose one and sign a lease. Given that, the Grace brothers, who own the building, decided to build it out as a residential unit, but rather than have a long-term tenant, enlisted Tom Hensley who co-owns and successfully operates Cook Loft and now “221” at 221 Cumberland (in the same building as Cook Loft), to manage “The Revival.”
Features of “The Revival,” listed on the VRBO site include, “a chefs kitchen with a 32 square foot island, double sinks, 72” refrigerator/freezer, double ovens, 36” stove top cooker with stainless steel hood, fully stocked with plates, silver ware, beer, wine, champagne glasses, coffee mugs, coffee maker, toaster, blender.” And that’s just the kitchen.
Three beds are cleverly built into the space unobtrusively, including “1 King Murphy bed, 1 Full Murphy bed (and) 1 Queen sofa sleeper. Two 65 inch televisions have been placed in the unit allowing for business meetings or game viewing. 11 foot windows provide ample light – but they also have privacy blinds. The 1 1/2 bath-unit includes a, “master bath with white marble double vanity sinks, large walk in shower with a 14” rain head.”
Maybe we’ll eventually get to the point that retail space is in enough demand in all parts of downtown Knoxville that this space and other residential street-level spaces will transform due to market demand. At this point, it really is a beautiful space offering a concept that is in remarkably low supply in downtown Knoxville. You are invited to an open house this Friday (First Friday) from 5:00 PM – 9:00 PM to check it out for yourself. If you are interested in leasing the space, you may contact Tom at (865) 310-2216 or firstname.lastname@example.org. Contact may also be made through the VRBO site.