South Banks

For several years, Dominion worked with the City of Knoxville and the Conley family to acquire the parcels necessary to develop this 230-unit urban/garden-style community and retail space in 2020. Aligned with the vision plan for the South Knoxville Waterfront, the project serves as a crucial link between the rapidly developing Sevier Avenue retail/commercial corridor and Suttree Landing Park. This 8-acre linear park offers 3000 feet of frontage on the Tennessee River, directly across from Downtown Knoxville.

The strategy involved creating an architecturally significant, transformational housing and retail product that offers vibrant housing and entertainment options at a more attainable price point compared to its Downtown Knoxville competitors. This project aimed to provide ease of living and access to the outdoor amenities of South Knoxville.

Dominion acted as the developer and owner, collaborating with a team that included the City of Knoxville, Merit Construction, and Sanders Pace Architecture. Sanders Pace was chosen for its award-winning architecture work, aiming to pay homage to the site's importance. Dominion invested $70 million in creating this landmark project, which offers one and two-bedroom apartment units, retail options, and amenities for residents and the wider South Knoxville community. The project also included two retail spaces designed with the community in mind, leased to notable restaurant operators offering unique experiences. Additional amenities comprise a saltwater pool, a rooftop lounge, fitness facilities (including weight and cardio rooms), bike and kayak storage to take advantage of the nearby river and South Knoxville Wilderness area, pet wash area, covered parking, game rooms, and co-working spaces. Dominion's internal management company, Dominion Management Group (DMG), was involved in every step, providing property management services and community engagement. Dominion continues to offer asset management services for the project, ensuring its successful execution.

By utilizing nearly every aspect of our vertical integration—development, construction management, property management, and asset management—South Banks is expected to deliver a return on cost exceeding 40% for the company. This asset is intended for long-term ownership by the company.

South Banks showcases Dominion’s exceptional capabilities in ideation, creativity, collaboration with municipalities, investment decision-making, and development/management strategies. These strategies focus on unique, transformational projects in metropolitan areas throughout the Southeastern US.