Developers get go ahead for Wilson Street plans
The Oak Ridge Land Bank Corp. board of directors has voted unanimously to give the go ahead to Machinations of Knoxville and Cappiello Real Estate of Oak Ridge — in developing mostly vacant land near Wilson Street.
The resolution supports giving Oak Ridge's Cappiello Real Estate the parcels closer to Kume restaurant, where Wilson Street meets Rutgers Avenue, to develop, including the restaurant site itself. The Cappiello buildings then will continue along Wilson Street.
An open space will, under the plans Cappiello and Machinations have presented, sit in between the Cappiello and Machinations buildings as a park, possibly with a concert pavilion. Wayne Blasius, Oak Ridge Plan Development Department director, told The Oak Ridger this park land will not go to either developer and will need a sponsor for park amenities to be built.
On the other side of the park area will be areas to be developed in phases by Machinations of Knoxville. They will not directly face Wilson Street but rather the open space on one side and a new parking area, accessible from Main Street East on the other.
Both Machinations and Cappiello are interested in developing multi-story apartment or condominium-type buildings, but with commercial establishments like breweries, restaurants, bowling alleys, retail stores or restaurants on the first floor. The developers and Blasius have presented these details at various city meetings. Blasius has said Machinations is planning all condos. Cappiello is planning all rental units.
“Unlike a suburban shopping mall kind of a feel, it would feel like a series of related but slightly different buildings,” Blasius said.
Scott Busby and Gregor Smee, principals with Smee Busby architects, are working with Tony Cappiello and told The Oak Ridger they expect to be able to build in a year. Similarly, Joshua Wright, the principal with Machinations, said he hoped to break ground in about a year, as well.
Neither company has closed on the sale yet. The resolution approved by the Land Bank board established "parameters" for a future agreement, but it does not include a sale.
Busby said he did not know what the plans were for the Kume restaurant or whether it would relocate somewhere else in the development.
The developments would all be on the opposite side of the street from TownePlace Suites by Marriott Knoxville Oak Ridge.
The resolution states that the total sale needs to yield no less than $900,000 to cover the mortgage obligation, interest and transaction costs of the Oak Ridge Land Bank.
Cappiello's land includes about 1.43 acres priced at $300,000 per acre, with possibly 0.2 to 0.5 acres more at the same price. Machinations will reportedly purchase about 0.65 acres at about $275,000 per acre. In the interior of the site, 0.85 acres priced at $225,000 per acre will also go to Machinations, as will between 0.2 to 0.5 acres adjacent to this parcel at the same price.
Blasius, during a presentation to the League of Women Voters of Oak Ridge earlier that day, said that while the developers are not required to build exactly what they had proposed, the zoning for the area required "urban rather than suburban development."
He described the planned apartments and condominiums as being upscale and aimed at attracting people who work at the federal facilities. In response to questions from The Oak Ridger about the need for affordable housing, he explained that these apartments and condominiums would not answer that need, but would answer other needs. Those other needs, he said, are specifically for a "downtown" area that would attract new residents, as well as providing a space for all residents to gather in the middle of town and for new businesses.
“Every project can’t solve every problem,” he said. “This project didn’t set out to be an affordable housing development, it set out to be a downtown that Oak Ridge doesn’t currently have.”
On that note, Karen George with Realty Executives at the League meeting, said the development would draw in business from people who would otherwise live in Hardin Valley or Karns, and help the city.
“We want them to invest in where they work,” she told the group.
Jessica and Joshua Wright told The Oak Ridger that they hoped the Machinations condominium buildings would have parking on a lower story in back. Blasius in comments to the League said this type of parking would allow people with disabilities to easily access the parking area. In general, he said, the new development would meet current Americans with Disabilities Act (ADA) standards.
Blasius encouraged the League audience to contact him with ideas for businesses that might be interested in this kind of downtown area. His email is wblasius@oakridgetn.gov.
This article originally appeared on Oakridger: Oak Ridge Land Bank votes for developers Wilson Street plans
