Exciting New Development Unveiling in Knoxville: Vintage Cal
Knoxville is buzzing with the exciting news of a new construction project that promises to add a chic, urban lifestyle option for residents. Developer Buzz Goss is gearing up to break ground on a project called Vintage Cal, which is nestled right next to the already popular Marble Alley. This project has been in the pipeline for nearly a decade, and it’s finally coming to fruition.
A Long Journey to Construction
Reflecting on the journey, Buzz mentioned, “I really intended to get started with this thing in late 2019 or early 2020.” However, with the onset of COVID-19, the plans hit a snag. The resulting supply chain disruptions and surging costs made things a bit tricky. “You couldn’t predict anything. You had to wait until it settled down,” he added, highlighting how the pandemic turned plans upside down.
Fast forward to late 2022, and things are finally back on track! After a series of discussions, including conversations with local officials, the new application for the approved Payment In Lieu Of Taxes (PILOT) secured the green light from the City of Knoxville in June 2024. Buzz has nothing but praise for the city team, stating, “I can’t say enough good things about Jane Justice and Ben Bentley and the staff of KCDC. They were awesome.”
The Making of Vintage Cal
So, what can we expect from Vintage Cal? The building will stand at seven stories tall, with around 200 parking spaces and a mix of commercial and residential units. The ground floor will feature a commercial space right at the corner of Union and State that Buzz envisions as a cozy coffee shop or a chill wine and cheese bar—perfect for enjoying a sunny afternoon!
Beyond that, the space will have a lobby, two office suites, and multiple entrances to live/work units, which will come packed with amenities like conference rooms. Buzz has designed the layout to provide a welcoming and functional atmosphere. And for those looking for a place to call home, the upper five floors will provide 167 apartment units ranging from studios to two-bedroom homes.
Apartment Highlights
The apartments will boast tantalizing features, including balconies that overlook the vibrant streets or serene rooftop plazas, making it a desirable place to live. With the 167 homes offered, nearly 70% will be studio or one-bedroom apartments, making it a great option for singles or couples looking to enjoy downtown living.
What’s even better? Fifteen of the units will be designated for workforce housing, catering to those earning around 80% of the Average Median Income (AMI) for Knoxville, contributing to the community’s diverse housing needs.
The Numbers Behind Vintage Cal
Interestingly enough, even though Vintage Cal has fewer units than the original Marble Alley, it comes with a hefty price tag of approximately $53 million for total development costs. This is largely due to rising construction costs, with parking spaces costing around $50 to $60 thousand each. “You realize it’s a different ball game now,” Buzz noted.
Bringing the Community Together
What makes Vintage Cal unique is the emphasis on community. Residents will find excellent shared amenities, including a fitness center, open court areas, and rooftop plazas complete with seating, fire pits, and grills for those summer barbecues. The idea is to create a space that fosters community connections and offers an enjoyable lifestyle.
As we look toward the future, architectural work is nearing completion, with hopes for construction to kick off by early March 2024. “We’ve created a place where people want to go,” Buzz said, embodying the spirit of innovation and community growth in Knoxville.
With Vintage Cal on the horizon, Knoxville is set to offer an exciting urban living experience that blends convenience, community, and a touch of class. Stay tuned for more updates as this project progresses!
