Partners anticipate breaking ground on project this fall
Farragut residents may soon expect a new purpose for the site of the former Ruby Tuesday’s and Silver Spoon Café, located at the corner of Kingston Pike and Campbell Station Road.
Farragut Gateway, a new development, is the vision of Paul Schaffer, Mike Channell and Jake Ogle, partners and development team members of First Farragut.
The partners anticipate breaking ground on the project in fall then completing it in late spring or summer of 2017, Schaffer said.
“The proposed redevelopment would be the first built
to our new Mixed-Use Town Center guidelines on a very prominent corner in Farragut,” David Smoak, Town administrator, said. “It will be a great asset to our community by taking a vacant property and turning it into a beautiful new business center that will hopefully inspire other projects in the Mixed-Use Town Center area.”
Schaffer said the partners anticipate three to five tenants in the 12,000 square feet of the two buildings. Schaffer said he expects a mix of offices and restaurants. While he said he could not comment at this time on which businesses might move in, Schaffer said he and his partners are negotiating with two tenants.
One type of business discussed in Town meetings has been a coffee shop.
“We are working with the Town to allow a drive-thru for a potential restaurant use,” Schaffer said.
The development also features more than 100 parking spaces, and Schaffer said the development team is planning a landscaped courtyard between the two brick two-story buildings and a tower feature on the corner.
Schaffer said his team has worked closely with town of Farragut on the project.
“[The Town staff] have been extremely helpful in putting our development plan together,” he said. “It's been a pleasure working with the Town.”
Developers have been looking at the site since last year.
“When we heard this property was available, we immediately put it under contract,” Schaffer said. “This is one of the best corners and the area has one of the highest household incomes in the state.
“When we first met with the town of Farragut they shared their vision for the area. We agreed that high-quality development was needed for this prominent corner.”
Schaffer said he hopes this development will spur more development in the area and improve the vacant corner.
“As the first new development in the Mixed-Use Town Center area, we think this will set the tone for future development,” Schaffer said. “We would hope that we can create a place where people will want to come and spend time.”