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Developer sets sights on Watt Road
Construction begins on multi-tiered mixed use development


Steve Maddox hopes to reinvent the face of Watt Road with his 100-acre mixed-use development, currently under construction.

“I have been hit with every kind of trucking operation idea that you can imagine. … And we basically just said, ‘No more trucks,’” Maddox said, mentioning the possibility of more truck stops along the Interstate, drawing heavy truck traffic away from Watt Road.

“The truck traffic is going to be a lot less of a problem and should open Watt Road up, there on the Interstate, for a higher and better use that would fit the community there now.

“That’s Farragut now and it’s time for a change,” he added.

Farragut town limits begin before the truck stops, south of Horne Radio, LLC property.


Maddox, president of Maddox Companies, said the acreage will be developed in three tiers, up and over the hill on which it sits.

The first tier, level with Interstate-75/40, mostly will be restaurants and retail shops. The second and third tiers will hold hotels, more restaurants and larger retailers.

“The front of that development is going to be more hotels, restaurants, retail: different businesses that are associated with travel or shopping,” Maddox said.

“We’re in negotiation now with three different hotel groups that are interested in that second level, that way they get a little bit better visibility.

“They’ll also be the ones bringing along a couple different restaurants that are interested,” he added.

The first and second tiers will each be about 10 acres; the third, which will cross the top of the hill, will be about 40.

The rear of the development, about 40 acres, will be a business park.

“This will be like small- to medium-sized businesses where they’ll have maybe their office areas, office showrooms, office workshops.

“The entire development is restricted and any buildings that have any kind of work areas now have to be screened and things like that,” Maddox said.

Construction on the first two tiers has already begun; Maddox hopes this part of the site will be completed, with roads and utilities, by March 2009.

“We’re going to landscape it; it’s going to have very nice, top-quality signage. It’s going to really be a different appearance for that exit,” Maddox said.

The development hasn’t been named yet. Maddox Companies, the owner, developer and contractor, will sell tracts of land within the development or build to suit, then sell or lease.

Maddox Companies has sold one tract of land to Memphis-based Ladd’s Golf Cart Dealership.

“They were really, really pleased with the location because it’s so centrally located to all the golf courses in the area,” Maddox said.

Maddox considers the development, situated off El Camino Lane, as a gateway to Farragut and Hardin Valley.

“The lower end of Hardin Valley, the most westerly end, comes out right there at Watt Road … that road going back through there [Everett Road] will be the most westerly entrance to Hardin Valley,” Maddox said.

“There will be road changes; that interchange right there is slated to be changed pretty soon, reworked like Lovell Road,” he added.

“There’s going to be a lot of things happening out there that will really improve it, and that’s the reason we’re planning for more intense commercial use as opposed to anything trucking or industrial.”

 

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