In early May, Thomas Boyd was approached by Oliver Smith Realty and Development regarding the Kress Building in downtown Knoxville. At the time, Boyd’s focus had been on revitalizing the Old City. However, “after looking into it for a little bit, I just kind of fell in love with it” said Boyd to Knox News. He finalized the purchase of the building on September 22 and has plans for new restaurant and bar tenants, residential space and possibly a rooftop patio. This is Boyd’s first move out of the Old City.
While the building is in good repair, there will be some construction taking place over the next few months. Phase 1 of renovation is expected to be completed by Summer 2021, however, this will be largely dependent on the COVID-19 situation.
Fat Tuesday, a New Orleans-style daiquiri bar chain is expected to lease part of the main floor. The remainder will be occupied by a restaurant and bar tenant. Boyd is focusing on local or regional tenants who will be open throughout the day, not just nightlife destinations. Currently the second floor is built out for office space, but Boyd would rather convert these to single bedroom apartments. A restaurant and bar concept is planned to be built on the rooftop, pending city approval.