The News-Sentinel article says....
In the lawsuit filed Friday in Knox County Chancery Court, Regions alleges that Georgia companies, including Cityview at Riverwalk LLC, owe more than $23 million on a construction loan that now is in default.
The lawsuit, though, alleges that there are approximately 19 pre-sale contracts in place for the purchase of condo units in the project.
In 2006, Knoxville City Council members approved a measure making the project's site its own tax increment financing district.
Under a TIF, developers borrow private money to pay for infrastructure improvements but use all or part of the new property tax revenue from the project to pay down those debts. Regions is seeking to receive and disburse proceeds from the tax increment financing loan.
Looking at that development it looks too close to the water to allow enough space for a river side walkway for the general public. How does the walkway fit?
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How much space do you need
How much space do you need for a walkway? If it's crammed like the one on the other side of the river, it won't require much space.
Brian A.
I'd rather be cycling.
Why not have one that is not
Why not have one that is not "crammed" for once?
Good question
I've never been there, but someone was just telling me about the path/greenspace they have along the lake in Chicago.
Obviously, since our lakefront property is worth far more than Chicago's, we couldn't dream about having anything like that. But maybe we could have shot for 30 feet?
Brian A.
I'd rather be cycling.
Remember that the
Remember that the development of the form-based code was a cooperative effort of the City and all stakeholders, including neighborhoods and property owners. It was an extensive process involving many hours of discussion.
I think we came out pretty good with the 20 feet.
The form-based code requires
The form-based code requires 20 feet for the riverwalk, and buildings set back 70 feet from the river. However, CityView was started before the code was adopted and so the City had to negotiate separately with them. If you really want to know what they agreed on wrt the riverwalk, email Dave Hill at dhill@cityofknoxville.org and ask him.
Connectivity
If you want wide waterfront spaces, there's Cherokee blvd park and Holston River park. Not to mention Scottish pike & Island home parks along with the big new park near Phillips.* To me, connectivity is more important than dimensions, as long as people are not bumping into each other.
* If you really want some elbow room, the General Shale property is for sale, 35 scres for 3.5 million. Hey, that would be a great site for an urban rodeo!
Cityview Riverwalk
Just to clarify, the City (using KCDC as its acquisition agent) purchased a 60-feet wide section of Cityview Shoreline along the entire length of the property. Within that 60-feet wide are, we will have two pedestrian/bicycle paths (one lower section that takes you down to the marina and will eventually connect to another floating section of riverwalk intended to cross under the Henley Bridge, and one upper section that will connect to the sidestreets to Blount Avenue), an observation deck, lanscaping and energy efficient LED lighting, and a bio-engineered embankment (rip-rap with low maintenance native plants that minimize soil erosion). Not 20 or 30 feet wide. 60 feet.
Extensive process
Yes indeed, it was a massive time suck. And at the end of the day major decisons in my neighborhood were made not by the residents or community input, but by a mcMansion dwelling developer from Farragut. Also look at the zoning for Mimosa ave where the opinions of absentee owners were used to override the exhaustively collected opinions of residents & homeowners.
The city is very lucky to have you for a cheerleader. You won't find one among the folks who are looking at a 4 or 5 story building across the street or in their back yard.
OTOH, the designation of a river walk was one instance where the plan reflects the wishes of the community.
The city is very lucky to
The city is very lucky to have you for a cheerleader.
I'm in a bad mood today, so I'd like to say something like "b*t* me." Instead I'll just say that I cheer the City when it does something I perceive as good (the south waterfront process in general, which involved ALL stakeholders, from Farragut McMansion dwelling south waterfront property owners to the Rowing Club - and the riverwalk standards in particular, which is what we were discussing and which you yourself endorse). I'll also speak up when I don't like something - ask Dave Hill how many times I asked him when the riprap was coming out at CityView.
We all complain when something happens we don't like (that's human nature), but too many of us forget to say "thanks" when good decisions are made.
too many of us forget to say
too many of us forget to say "thanks" when good decisions are made.
Too true!