Project: The Constance
Owner: John Wise
Location: 125 Cherokee Blvd.
Contractor: Wise Properties
Investment: $5 million
Size: 48,000 square feet, including 12,00 square feet of retail and 36,000 square feet of apartments
Scope: This four-story brick building will include retail and apartment space. The first floor will host commercial tenants, including a dentist, a swimming facility and a crossfit gym. The top floors will be filled with 27 apartments that Wise hopes to market to people who have considered buying condos but want the flexibility of renting. He wants to capitalize on the growing number of empty-nesters who live downtown.
Rent: $850 to $1,110 per month
Features: The apartments will include hardwood floors, stainless steel appliances, washers, dryers and walk-in showers. Wise plans to build a parking deck and will turn the alley behind the building into an outdoor space with tables, chairs and plants where residents can relax.
Timeline: Construction should be finished by late June
Future: Since Wise also owns the building next door, he's also adding a second-story, all-glass space that will connect the two buildings. The 1,500-square-foot space will also include a 1,500-square foot-balcony. It could either be used for offices or as an event-hosting venue.
Shelly Bradbury joined the Times Free Press as a business reporter in January 2013, after starting with the paper as a general assignment intern in July 2012. She is from Houghton, New York, and graduated from Huntington University in Huntington, Indiana, with a bachelor’s degree in journalism and minor in management. Before moving to Tennessee, Shelly previously interned with The Goshen News, The Sandusky Register and The Mint Hill Times. Outside the newsroom, Shelly enjoys ...