Elected officials, community leaders celebrate residential and retail development
At a preview party event, developer Joe Petre of Conversion Properties, Inc., today formally announced the launch of Regas Square, a $36 million, six-story luxury midrise offering 101 condominium units and restaurant and retail space. The development will be located at 333 W. Depot Ave., in downtown Knoxville.
“Regas Square is downtown Knoxville’s newest and most remarkable residential and retail development in years,” Petre told elected officials and community leaders at the event. “We’re taking a parking lot and turning it into a development that transforms downtown Knoxville’s skyline, serves as the anchor of our city’s burgeoning Downtown North district and bridges downtown with Emory Place, Broadway at Central and beyond.”
Located in one of the city’s most dynamic areas and encompassing nearly a city block, Regas Square offers close proximity to restaurants, cafes, shops, salons, entertainment venues and galleries of downtown Knoxville and also the University of Tennessee campus. The development features 101 luxury one- to three-bedroom residences with private garage parking; bicycle storage; storage units; state-of-the-art fitness center; clubroom and social areas; private exterior courtyard; and 21,000 square feet of retail and restaurant space with outdoor patio seating.
“We’re thrilled to be in this location,” Petre said. “There’s redevelopment all around us, and this area continues to expand. In five years’ time, Regas Square will be in the center of everything.”
Knoxville Mayor Madeline Rogero praised the project as another feather in the cap of a flourishing downtown.
“Regas Square not only represents the most significant residential and retail investment Knoxville has seen in years, it also will further enhance our thriving downtown and promote a vibrant local economy,” Rogero said. “We appreciate the substantial investment and careful planning that have gone into making this a first-class project of which we can all be proud.”
The residences offer 20 floorplans featuring generous light-filled living spaces with large terraces, high ceilings, hardwood flooring, ample closet spaces, open kitchens with granite or quartz countertops, custom cabinetry and stainless appliances. Master bathrooms will be stylishly appointed with sleek tile, double vanities, granite or quartz countertops and modern fixtures. Pre-construction pricing begins at $189,900.
Knox County Mayor Tim Burchett said Regas Square will beautify the area and continue to position downtown Knoxville as the perfect place to visit and live.
“I’m happy to see Regas Square go up in this spot,” Burchett said. “A lot of us have fond memories of the old Regas Restaurant, and it’s good to know we will have the opportunity to create some new memories here. This development will boost our local economy and is further proof that downtown is a great place to be.
More information about residential units is available at http://www.regassquare.com or by contacting Kimberly Dixon Hamilton of Downtown Realty Inc. at 865-405-8970
The project was designed by Design Innovation Architects and will be built by TDH Construction. Construction is expected to begin in October 2016, and officials anticipate an 18-month construction period and 2018 opening.
About Regas Square
Located in one of the city’s most dynamic areas and encompassing nearly a city block, Regas Square offers close proximity to restaurants, cafes, shops, entertainment venues and galleries of downtown Knoxville and the University of Tennessee campus. The development features 101 luxury one- to three-bedroom residences; private garage parking and storage units; a state-of-the art fitness center, club room and social areas; a private exterior courtyard; and 21,000 square feet of retail and restaurant space with outdoor patio seating. For more information, visit http://www.regassquare.com.