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NEWS RELEASES
City of Knoxville, Tennessee
Madeline Rogero, Mayor
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For Immediate Release
Grand Opening of Five Points Plaza Celebrated
Five Points Village PlazaMay 5, 2006 - A grand opening celebration was held Friday for Five Points Village Plaza, a public-private partnership that is revitalizing a key block in the Park City neighborhood.

The $6.3 million project was more than a decade in the making, and involved assembling property, installing new infrastructure, and building a shopping center that has as its anchor tenant, Metro Village Market IGA.

Attending the ribbon-cutting ceremony were U.S. Rep. John J. Duncan Jr., Knoxville Mayor Bill Haslam, Knox County Mayor Mike Ragsdale's staff and members of City Council and County Commission.

Ribbon Cutting Ceremony at Five Points
Ribbon Cutting Ceremony at Five Points

"The redevelopment of this block is intended to stimulate additional investment in commercial and residential property in this area," Mayor Haslam said. "This project became a reality because of the collaboration among many institutions and individuals. By continuing to work together, Five Points can be a thriving community once again."

Mayor Haslam speaks at Five Points Village Plaza Grand OpeningThe project has received funding from the federal Empowerment Zone program, city of Knoxville, Knox County, KUB, and a federal grant awarded to the Partnership for Neighborhood Improvement. The developer, BDT Development & Management LLC and grocery store operator, BDT-Cox & Wright Partnership, are also making significant investments in the center.

Congressman Duncan stated, "This is a great day for our citizens. I believe the revitalization of the Five Points area will bring jobs and services that will greatly benefit the community's growing economy."

Cynthia J. Finch, Knox County's senior director of community services who represented Mayor Ragsdale stated, "The Five Points area is rich in history and has always been blessed with a strong sense of community. This redevelopment marks an important milestone for the residents and the business owners of Five Points and offers great promise for the future."

The Five Points Village Plaza includes more than 31,500 square feet of space. Metro Village Market, a full-service grocery store, is the anchor tenant. Other tenants include Wells Fargo Mortgage, J-R's House of Fashions, Chefs and Caterers Kitchen, and the satellite offices of the Knox County Clerk, Wm. Mike Padgett and Knox County Trustee, Mike Lowe.

"Having grown up in the Five Points neighborhood, I remember a time when small businesses flourished here and their customers included people from all across the city," said LeRoy Thompson, president of BDT Development & Management. "We made every effort - and succeeded, I believe - in recruiting first-class tenants to this shopping center, including a full-service grocery store. Now we need the community to make the center a success."

For Immediate Release
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