LOUDON, Tenn. — A new riverside apartment and rental neighborhood is in the works to rebuild a long-vacant area of Loudon.
Dover Signature Properties on Tuesday presented plans for a new neighborhood development at the site where the old Bacon Creamery and other industrial properties once stood near the Highway 11 bridge.
The development will be next to a planned city park and multi-use development. DSP said it's planning to build 210 multi-family units and 60 single-family units -- investing a total of approximately $40 million into the project.
DSP said the area will have multiple pocket parks, greenways and riverfront walking trails -- and will also feature a coffee shop and watersports store.
The city of Loudon has been trying to find someone to redevelop the empty parcels of property for years. The new development is planned to span approximately 15 acres along the Tennessee River where industrial buildings once stood dating back to the late 1800s and early 1900s.
"So the city of Loudon was laid out as a working factory waterfront town in the 1800s," developer Rick Dover said. "We'll recreate neighborhoods, bring those down through pocket parks and walking trails down to the river, and have walking trails and amenities all the way down to the water front."