Kingsport Economic Development Board (KEDB) members recently learned that $7 million have been spent grading the Heritage Point Towne Center site at the intersection of Interstates 81 and 26. Photo by Ned Jilton II.
KINGSPORT — The future of the Heritage Point Towne Center commercial development appears to be coming to a crossroads.
Last March, developer Stewart Taylor went ahead with a ceremonial groundbreaking on his Heritage Point project despite not having an anchor retail tenant signed on the dotted line.
Kingsport Economic Development Board (KEDB) members were recently advised by attorney Buddy Scott — who spoke on Taylor’s behalf — that $7 million have been spent grading the massive site at the intersection of Interstates 81 and 26. About 200,000 people live with a 50-mile radius of the site.
The grading, Scott indicated, is nearly complete, with about 125 flattened acres ready for development now.
At the March groundbreaking, Taylor said his plans for the development included a major wholesale club, sporting goods retailer, a multi-screen cineplex, department stores, multiple restaurants and a hotel complex.
“With several letters of intent in place and the possibility of a major announcement soon, now is the time to move forward,” Taylor noted at the groundbreaking.
Taylor said he had secured Chattanooga-based real estate developer Fletcher Bright Co. to sign up tenants.
Now it appears to be possible that Taylor might pass the site to another developer.For an expanded version of this article, please see Sunday's print edition or our expanded electronic edition.