BusinessTN

Thanks to Knoxville-based Commercial & Investment Properties' dedication to its hometown, Knoxville currently has a number of developments underway that could enhance its status as a premier destination in the Southeast. The developer and its president Nick Cazana grabbed headlines earlier this year Knoxville chose CIP to redevelop a central piece of downtown property: the site of the old Supreme Court Building, located across the street from the Knoxville Convention Center.

The plan for a $78 million complex garnered praise but also met a strong challenge. Cazana's mixed-use Metropolitan Plaza is designed to contain a 125,000-square-foot office building, a 200-room boutique hotel, 30 condos, and 20,000 square feet of retail. But immediately following the announcement, a lawsuit hoping to halt the project was filed by Emanuel "Chico" Martin, an employee of a nearby Holiday Inn Select. The suit accuses the city—which currently owns the site—of violating a 2004 voter referendum banning the use of public funds or resources to build a new hotel for the convention center. The suit is currently awaiting a judge's decision.

Cazana feels the project is important for the continuing development of downtown Knoxville. "The downtown area is doing quite well, especially from the residential aspect, and we think this mixed-use development will be something to help Knoxville keep up with or surpass many of our competing neighboring cities, such as Chattanooga, Lexington, Greenville or Asheville," he says.

Cazana is also currently behind the 80-acre Century Park office complex, a $100 million facility located near Pellissippi Parkway and I-40. "We've just completed our fourth building, and we're moving on with additional developments," he adds.