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Town Park Lofts welcomes first residents, leasing underway

J. H. Osborne • Jan 29, 2019 at 7:11 AM

KINGSPORT — The first completed section of Town Park Lofts is open and beginning to draw tenants. During an open house this past Saturday and Sunday, complex management said 40 units already are leased — and 20 of those are occupied.

Those figures include 11 units leased by Eastman Chemical Co. to serve as housing for interns.

The open house featured two ground-level model units in the section of the complex that runs along West Sullivan Street. That section is the only section ready for occupancy at this time, but work is quickly nearing an end on the rest of the 263-unit horseshoe shaped complex. Once completed, Town Park Lofts will offer a variety of floor plans. Most are one-bedroom or two-bedroom units, but there are some three-bedroom units.

Promotional material distributed during the open house describes the complex’s interior spaces as “a world of sophisticated charm” with “tastefully designed living spaces boasting expansive 9-foot to 15-foot ceilings, hardwood flooring, and state-of-the-art kitchens featuring stainless steel appliances and granite countertops.”

“We’re very excited to be a part of the downtown community and the community in general,” said Rachel Calloway, community manager at the complex. “We really want to make an impact and contribute to the vitality of downtown. It’s a great location with lots of amenities on site and nearby. There’s a lot of what you need each day within walking distance. We’re also committed to helping out by volunteering for causes and at events throughout the city. So anyone who knows of anything coming up, please let us know. We’d like to be involved.”

In addition to Town Park Lofts’s 263 apartment units, the complex also will include retail storefronts facing Clinchfield Street.

This luxury apartments project was deemed so crucial to the success of downtown’s redevelopment that city officials granted the Georgia-based development company a deal where it will pay no property taxes on the $32 million complex for at least the next 20 years. The payment in lieu of taxes (PILOT) plan translates into $7.9 million in deferred property taxes.

Apartments range in size and price from 718 square feet ($840 to $860 per month) to 1,259 square feet ($1,395 to $1,405 per month). Ground floor apartments include patios. Upper level apartments include either balconies or “Juliet balconies.” (On the latter, there are patio doors, but only a small “stoop” and the railing is pretty much flush with the building).

Apartments are rented unfurnished. The photos attached to this story are from the model units for display to potential tenants.

A “soft” opening will be followed by an official grand opening at a later date. But leasing is underway now.

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