City South

190 Multifamily Units

Holdings

Investment Information

Innovative $50 million development by Dominion bringing an urban lifestyle to the Turkey Creek area in West Knoxville, TN.

Overview

For years, Dominion was interested in developing housing on the last undeveloped parcel in the thriving Turkey Creek area in Knoxville, TN. Turkey Creek has become the retail and commercial hub of West Knoxville, and continues to be an in-demand area for retailers, office users, hotels and restaurants / entertainment.Almost all of the Turkey Creek area had been developed, but the developers were holding onto a 6-acre parcel, searching for just the right use. Dominion was able to enter a joint venture agreement to develop a 190-unit urban influenced multi-family community on the site, bringing a vibrant living option to the thriving commercial district.

Strategy

Develop a unique, highly amenitized multifamily community with an urban sensibility in the heart of the Turkey Creek commercial district. Provide a living option that provides connectivity to the commercial vibrancy of the area, giving residents a “front row seat” to all that the area has to offer, while providing all the amenities and comforts of amore typical suburban community.

The Work

Dominion served as developer and owner, working with a team that included MeritConstruction and DK Levy Architecture.Playing on the architectural aesthetic and success of Dominion’sCity South project, DK Levy designed an urban styled community that provides a fully amenitized option on a relatively small multifamily site. The project provides one, two and three-bedroom apartment options and amenities for residents looking to be in the middle of the vibrant Turkey Creek area.Additional amenities include a saltwater pool, fitness facilities including weight and cardio rooms, storage areas and community connectivity spaces.Dominion’s internal management company, Dominion Management Group (DMG),was consulted at every step of the process and provides property management services and community engagement. Dominion continues to provide asset management services to the project, ensuring its successful execution.

The Results

City West has been extraordinarily well received by the market and is expected to deliver a 40%return on cost to the company within the first 2 years.

Dominion Statement

Innovative $50 million development by Dominion bringing an urban lifestyle to the Turkey Creek area in West Knoxville, TN.