Developers are planning to turn an abandoned Farragut shopping center into a new high-end town center. It would be on Kingston Pike between Concord Road and Campbell Station Road, across from Farragut High School.
Developer Budd Cullom said the new development will feature high-end shops, restaurants and walking areas.
“[It] would be similar to Market Square, but with grass instead of concrete,” Cullom said.
He also plans to add 283 multi-family residential units, a point of contention for people who already live in Farragut.
“There’s a great number of families that will be moving in,” said Suzanne Parham, a Farragut resident. “The area’s just kind of maxed out as far as traffic goes.”
Farragut Mayor Ron Williams said the town is upgrading its infrastructure to handle more traffic, pointing to a $10 million grant they received for that purpose.
Cullom said adding those multi-family residential units are also vital for growing Farragut.
“Look how Knoxville finally took off once they started doing condos and apartments,” said Cullom. “Any kind of a town center requires a mix of uses for it to really have the vibrant feel.”
Mayor Williams expects the town center to increase the sales tax income and add more options for people when they leave home to dine out.
“What we need in town is more restaurants in this area,” Williams said. “We’ve got one new one in town, and it’s really busy.”
Cullom purchased two plots of land, the first for around $4 million and the second for about $7 million. He expects to spend $90-100 million on the construction.