KNOXVILLE, Tenn. (WATE) — The Old City skyline in Knoxville will, likely, look different by the end of 2021. The change: a new residential and retail complex, The Stockyard Lofts.
It’s a partnership project between Leigh Burch of Terminus Real Estate and Daniel Smith with Legacy Capital.
The complex on Willow Avenue will be five stories of units, a first floor of retail, house 152 apartments, a saltwater pool, private parking for residents, and balconies. It’s, what developer Leigh Burch III called, “the definition of luxury living.”
The space sits next to Barley’s, and once was a parking lot, and will include nearly 200 covered parking spots, with the option for electric charging stations.
Burch isn’t a stranger to Old City developments. His company, Terminus Real Estate, runs a dozen buildings — many of them restored and historic — along Gay Street in Knoxville. Stockyard Lofts, however, is a different challenge than other projects.
“It’s not like a typical rectangle or square. what it led to was some really cool unique buildings,” said Burch.
To create the design Burch said his team visited and research major cities like Dallas to get a better idea of how to implement something different in Knoxville. Something, he said, that is unlike other new residential options.
“That old expression in life, nothing good comes easy. This was not easy,” said Burch.
His other projects include Sterchi Lofts and The Lerner Building on the 100 block of Gay Street. Both projects, he said, were done in one-year. Stockyard Lofts is now in its third.
The reason, Burch said, the land had to be excavated after historical artifacts were found on the land from early Irish settlers. That process took weeks of experts digging to ensure no artifacts were left behind under the construction.
Once cleared, Burch said the process has continued as usual.
“Might go through the end of 2021 before it’s completely done,” said Burch.
The future of the Old City, according to Burch, is along Jackson and Willow Avenues, towards what will become the Smokies Baseball Stadium.
He plans to lease units on the top floor by September 2021. The building is all rental, units cannot be purchased outright.