KNOXVILLE, Tenn. — Contractors from Third Base Residential LLC ceremoniously broke ground on the site of a new apartment complex Wednesday. A new apartment complex that will be built adjacent to the new downtown stadium started construction a few weeks ago.
The new luxury apartment complex will consist of two buildings connected by a sky bridge. The project costs $70 million to build and includes 233 units, as well as amenities including a pool looking over the stadium.
The cost of rent will be announced closer to the completion date for the first building in April of 2023, with the second building finished later that summer.
"We think there's a big need for additional housing in downtown Knoxville and greater Knoxville," said Joe Fielden, the development manager.
A larger development project around the new stadium is also in the works.
City leaders and the Knoxville Urban League are working to boost diverse participation in businesses and development. The goal is to incorporate Disadvantaged Business Enterprises, which are organizations led by people of color and women.
"We're proud to say that we've got over 20% of our total contract or our DBE enterprise businesses," Fielden said.