GEM Community Development Group, the development partner to Boyd Sports, is building two seven-story apartment buildings – connected by a sky bridge – next to the stadium coming just east of the Old City in 2025.
Team and development representatives met at the site July 19 for a groundbreaking photo opportunity, as construction continues on the $114 million stadium.
This $70 million residential development will have direct views of the playing field, as highlighted in the newest rendering shared at the groundbreaking.
This project is separate from the nine-story condo building that will be named after Beauford Delaney, a Black modernist painter and Knoxville native known best for his contributions to the Harlem Renaissance.
New renderings of Yardley Flats show what kind of views apartment residents will have of the downtown Knoxville stadium once it's built and the Tennessee Smokies begin playing there in 2025.
But just like the $55 million condo project, the apartment buildings will honor one of Knoxville’s most prominent Black historical figures.
Named Yardley Flats, the 233-unit apartment complex will pay respect to William Francis Yardley, a civil rights advocate believed to be the first African American to bring a case to the Tennessee Supreme Court.
How much will the downtown Knoxville apartment building cost?
The current estimate is more than $70 million.
Who is behind Yardley Flats Project?
The project is led by Third Base Residential, a new company formed as a partnership between local developer Joe Fielden Jr., Joe Fielden Sr., and GEM Community Development Group. GEM is a private development partner to team owner Randy Boyd and Boyd Sports.
How large are the apartment buildings?
The development would feature two seven-story buildings − five levels of apartmentsatop two levels of parking − connected by a "sky bridge."
What is the apartment unit breakdown?
Yardley Flats will feature 233 apartments. Plans call for a mix of studios, one-bedroom apartments and two-bedroom apartments.
How much will rent cost?
While monthly rates have not been shared, a spokesperson for the development team said the units will have "higher end market-rate rents."
In May, the average effective rent in downtown's 37915 zip code was $1,635, according to data provided by Hancen Sale of the Knoxville Area Association of Realtors. Look for that to increase by the time these apartments open.
What are the amenities for Yardley Flats residents?
Two seven-story buildings adjacent to the forthcoming downtown baseball stadium would make up Yardley Flats, named after William Francis Yardley, the first African American to run for governor in Tennessee. This residential project is in addition to the planned nine-story condo building named after Black modernist painter and Knoxville native Beauford Delaney.
One building will feature a courtyard with views of the stadium, fire pits, grilling stations and dining areas. Other amenities include:
Swimming pool with sundeck, grilling stations, firepits and field views
Indoor-outdoor fitness center
Business center with co-working spaces and a café
Game room
Gathering spaces for “watch parties”
Sports lounge with stadium and pool views
Dog park in the garage
Pet spa with dog washing stations
Storage and repair center for bicycles
In-unit washers and dryers
Quartz countertops with subway tile backsplash
Stainless-steel Energy Star Whirlpool appliances
Electric vehicle charging
The apartment buildings also will feature lockers for packages, a leasing center and 2,500 square feet of retail space.
Will apartments at Yardley Flats have views of the stadium?
More than half of the units will have full or partial views of the field, Fielden Jr. said in a news release.
Every resident will have access to common areas with stadium views.
When will construction finish?
The first building is expected to be ready by the time the Double-A Tennessee Smokies, set to become the Knoxville Smokies, plans to begin play at the new stadium in spring 2025. Construction of the second building is expected to wrap in summer 2025.
How do I secure an apartment at Yardley Flats?
Leasing won’t begin until late 2024.
What else is William Francis Yardley known for?
Yardley lived from 1844 to 1924 and was the first African American to run for governor in Tennessee, according to the state encyclopedia.
He was teaching Black children at the Ebenezer School in 1869, according to the encyclopedia, and primarily handled criminal cases for Black clients throughout his law career.
“Mr. Yardley was described by famous orator Frederick Douglass as ‘one of the most remarkable men that I have met’ and we think it is appropriate to name this stunning residential development after him,” Fielden Jr. said in a news release.
What’s the latest news on the Knoxville stadium project?
The stadium broke ground June 13, though the ceremony was only symbolic. Construction work had been happening months prior, though crews are now working to build the stadium from the ground up.
The Sports Authority's finance team, led by J.P. Morgan, sold $65 million in publicly backed bonds May 24 at 5% interest, well below the 6% maximum outlined in the bond deal.
Bonds are essentially a loan from a buyer, who makes the purchase to make a profit off the interest when the bond is repaid.
Where is Smokies stadium funding coming from?
Tennessee Smokies CEO Doug Kirchhofer, left, and team owner Randy Boyd pose for a portrait at the downtown baseball stadium construction site just east of the Old City on Aug. 29, 2022. The Double-A Chicago Cubs affiliate will change its name to the Knoxville Smokies upon moving to the new facility, which is scheduled to be ready in time for Minor League Baseball's opening day in spring 2025.
