Sat
Oct 14 2017
06:41 am

The Kern's Bakery building on Chapman Highway has a new lease on life, again. The property has been recently purchased by an investment group based in Asheville, Land of Sky Regional Center. Oliver Smith IV of Knoxville brokered the deal.

The 70,000-square-foot building will host more than a dozen tenants - including at least six restaurants, plus breweries and retail shops. Additionally, new multi-family units will be built behind the current building.

Downtown developer David Dewhirst and three partners purchased the building in 2015 for $312,500. The Asheville, NC, company paid $3.1 million for the property. Surely Dewhirst, etc., put some money into the building. Who knows? If not, they made a really good deal.

Many of us look forward to the completion of this project.

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bizgrrl's picture

Land of Sky Regional

Land of Sky Regional Center

Land of Sky Regional Center- Our Mission: To help foreign investors qualify for a permanent residence visa (green card), pursuant to the US EB-5 Regional Center Program, and create jobs in the United States.
...
From its base in Asheville, North Carolina, Land of Sky Regional Center oversees high quality development projects located in the Southern Appalachian mountains.

fischbobber's picture

Ditto

Great catch. If someone's going to launder money and visas through Knoxville projects, we should at least know and hold them to the highest standards.

jbr's picture

Examples of their work?

I haven't found any examples of their work.

The EB-5 program did seem familiar.
Kushner Companies Said to Be Under Investigation Over Visa Program

Up Goose Creek's picture

Visas

Good catch, Bizz.

IIRC the threshold is pretty high so there aren't too many investors needed to make this kind of purchase.

If anyone is going to benefit from a windfall I'm glad it is David Dewhirst.

I'm eagerly awaiting a wider variety of restaurants on this side of the river.

Meanwhile I'll take this opportunity to point out the shopping center of the former Disc exchange has two local restaurants: La Bamba has a focus on seafood and there's a down home style taqueria next to the Wee Care shop.

The Landing House has opened on Sevier Ave next to the historic Neal Mansion.

jbr's picture

EB-5 Immigrant Investor Visa

fischbobber's picture

Sidewalks

Am I the only one to notice that the sidewalks and much of the signage and other infrastructure improvements (handicapped sidewalk crossings for instance) that would have been critical for the success of the west knoxville ten year plan for the homeless have been quietly added to the downtown west/ Westtown area? What is ironic about this is that had those proposals been on the table to begin with, instead of then-Mayor Haslam insisting our neighborhood infrastructure was sufficient, we may have had an entirely different outcome on the homeless proposal.

Kinda reminds me of the way he did the states poor on healthcare.

(link...)

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