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An Arresting Development
The future of Turkey Creek holds enormous possibility
by Clint Casey
The Turkey Creek development is slowly evolving into an interconnected behemoth with endless possibility. When the project reaches its projected completion in 2009, its 400 acres will include 1.5 million square feet of retail space, a million feet of office space, and a half-million feet of restaurants and entertainment—more than 3 million square feet of land that was relatively dormant less than five years ago. John Turley, general manager of Turkey Creek Land Partners, calls what’s happening there “synergy.”
The user-friendly Colonial Pinnacle project, known as a lifestyle center, will be ornamentally landscaped and trimmed with benches, an upscale mall sans roof with the usual suspects: high fashion, housewares, books and music.
The buzzwords for a lifestyle center are ambiance, efficiency and convenience. “It addresses the needs of customers adjacent to Turkey Creek. We’re trying to create an atmosphere for them that is special and different than anything else in Knoxville,” says Paul Glascock of Colonial Properties Trust in Birmingham, Ala. “Convenience is a major consideration for shoppers,” he adds, citing the parking situation as a key.
With lifestyle centers quickly becoming the rule instead of an exception, Knoxville will cut its teeth with its first in April 2006. Currently, 20 lifestyle centers are built per year on the average, compared to three traditional malls. Confident in the coming extinction of traditional malls, Turley says, “The ones that are going to be left will be either “A,” “B” or “C” malls. An “A” mall would be like West Town that will continue to be maintained and do well. A “B” mall would become a neighborhood mall, like Foothills in Maryville—there are more local tenants. Knoxville Center will eventually be a neighborhood mall. And the third malls will be the ones they scrape or turn into churches; they’re not going to exist.”
The aesthetic goal of the lifestyle center is to create a sense of place. Its customers can expect “anything from brick paving in the sidewalk to give pedestrians a comfort level walking around the interior of the center, to special lighting, to fountains,” Glascock says.
The Pinnacle project is comprised of two phases that will open simultaneously to the west of SuperTarget on the north and south sides of Parkside Drive. And, Farragut Land Partners recently purchased an adjacent tract of land for $4.8 million to secure property for another phase of Colonial development. “There is very strong interest in a phase-three retail environment, which would come after we open the initial center. We intend to explore that opportunity at the appropriate time,” Glascock says. “Right now, we have our hands full getting the first phase of the center open.”
The area available for lease in the $80-million center is 44,000 square feet for restaurants and 179,000 square feet for shops. However, the Pinnacle is unique from other lifestyle centers with its anchor: an $18-million Regal megaplex. Opening in May 2005, the 18-screen theater encompasses 82,580 sq. ft. of the available 305,000 total, and it has current Turkey Creek merchants salivating at the possibilities.
“The big talk among merchants is the Pinnacle, and the theater will validate it,” says Bed Store owner Roger Cunningham.
In addition, a 120,000-sq. ft. Proffitt’s department store is slated for April 2006, serving as the first—and only—department store for the development. It’s a joint venture between Colonial and TCLP. Possible features include a bakery, cooking demonstration kitchen and a wellness center; final plans are to be announced early next year. According to Proffitt’s, the Alcoa-based company will continue to maintain its current Knoxville locations and is preparing for renovations to its Oak Ridge store.
Currently, the Pinnacle is exploring options for upscale tenants to complement its anchors. Turley offers a hint of what’s to come in the flavor of desired tenants. “You’re going to see a bookstore like a Borders, and we’re trying to bring new restaurant concepts into town. Bonefish Grill on Bearden Hill is looking. There are two or three upscale steakhouses like Ruth’s Chris or Houston’s.... California Pizza Kitchen—those are the kind of people that we’re talking to.
“The natural progression is once you have your anchor tenant, you go pick the guy that will fit the best,” he says.
Separate, but not necessarily apart, from the Pinnacle lifestyle center, Texas Roadhouse and Mimi’s Restaurant and hotels Homewood Suites (owned by Hilton) and Spring Hill Suites (owned by Marriott) have committed to the development and are under construction.
Ron Watkins, president of Worsham-Watkins International, is set to build two office buildings totaling 150,000 square feet adjacent to the Pinnacle.
In addition, a residential subdivision is planned behind the Regal cinema. The Cove at Turkey Creek will have 74 lots available for construction on 34 acres.
On the west end of Parkside Drive at Campbell Station Road, there are hopes for a grocery eventually, with TCLP eyeing Publix.
Colonial and TCLP are selective in greenlighting concepts, cautious not to replicate an existing business. Turley speaks passionately about the development, unwilling to compromise or settle for substandard ideas. “We want the best of the best of the best of local retailers out there, not a bunch of franchises or strangers from out of town,” he says. “But, at the same time, we want a level of retail and fashion that hasn’t been here before. Here we have the opportunity to do it. There won’t be another Turkey Creek.”
December 2, 2004 • Vol. 14, No. 49
© 2004 Metro Pulse
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