Inside the Marble Alley Lofts in Downtown Knoxville

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A visitor on Tuesday looks at the view from a 1,187-square-foot, two-bedroom unit in Marble Alley Lofts. The space is expected to rent for $1,779 per month.

Downtown Knoxville has seen a residential boom over the last decade, but most of the growth has come from the redevelopment of old buildings.

On Tuesday, though, a group sponsored by the Urban Land Institute got a sneak peek at Marble Alley, a new apartment project that’s being built from the ground up at the corner of State Street and Commerce Avenue.

The tour was led by developers Buzz Goss, of Knoxville, and Ross Bradley, of Murfreesboro-based TDK Companies. The project will have 248 apartments wrapped around a garage, giving residents access to covered parking on their own floor.

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The target market is young professionals and empty-nesters, and Bradley estimated that 30 to 35 percent of the population will be baby boomers, drawn by amenities such as granite countertops, a fitness center and a pool. While students won’t be explicitly excluded, Bradley said the project was not designed to be student-friendly, citing the fact that 70 percent of the units will have one bedroom.

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Project amenities include a “pet spa” near the downtown dog park, with stations that allow guests to wash and groom their pets; a “valet trash” service that offers doorside pickup five to six days a week; and an app that allows residents to submit maintenance requests and pay their rent.

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Asked about commercial space, Goss said the goal is to include that in the project’s second phase. Bradley added that in the first phase, the building’s ground-floor units were designed in a way that allows them to be converted to live-work spaces in the future.

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Pre-leasing is underway now, and more information can be found at marblealley.com.

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S. Knox apartment complex changes hands in $42M deal

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A South Knoxville student housing complex has been acquired by a Georgia firm.

According to a deed filed with Knox County, an LLC with links to Atlanta-based QR Capital acquired the Quarry Trail apartments, on Cherokee Trail, in a deal valued at $42 million.

According to its website, QR Capital also owns the Blackstone, Fairmont & Lee Apartments and the Hillwood Pointe Apartments in Nashville.