The Knoxville News Sentinel reports today on a new development planned for the South Waterfront in the Island Home area:

Clay Landers of Atlanta-based Camden Management Partners said his firm has 12 acres near Island Home Avenue under contract and is planning a 60-slip marina, a residential development and possibly some light commercial uses on the site.

According to the article, there could be up to 150 residential units, probably apartments later converted to condos. Based on the description of the property, it's the old tank farm right at the entrance to Island Home. One of the parcels is the river bank just across Island Home.

This was interesting:

David Hill, who's heading up waterfront planning for the city, said Knoxville officials are supportive of the plan and have even taken a preliminary look at the cost of shifting Island Home Avenue 20 to 30 feet away from the shoreline in order to provide more room for retail spots on the riverwalk side of the property.

I always wondered what they were thinking when they built Island Home Ave. so close to the river down there. Guess this would take care of that.