| July 9, 2014 -
Mayor Madeline Rogero and Knox County Mayor Tim Burchett helped break ground this morning on Marble Alley Lofts apartment complex, which will add about 240 apartments downtown!
Developer Buzz Goss called the project a "transformative piece" as downtown continues to evolve.
Marble Alley is the first major new residential development downtown since the downtown resurgence started more than a decade ago. There's been remarkable energy, with beautiful, historic buildings being restored and converted into apartments and condos. Now, Marble Alley represents a next stage of downtown revitalization: New buildings that will continue to grow the residential base!
Marble Alley also fills in a big gap in the downtown map, connecting the energy and activity along Gay Street and on Market Square with the redevelopment happening in the Old City.
The City, in conjunction with Knox County, is supporting the project with a 10-year PILOT tax incentive. In addition, the City has committed $1.4 million in public infrastructure improvements - new sidewalks, street lights and landscaping on State Street, Central Street and Commerce Avenue.