Daylight Building

Tennessee

DEVELOPER:

Dewhirst Properties LLC

BACKGROUND:

The Daylight building in Knoxville, Tennessee was home to the Tennessee Valley Authority, the landmark regional planning agency, since its creation in 1933. Formerly known as the "Daylight Block," the building is so named because of its hallmark feature - windows allowing daylight into every office, even the interior ones. This style of architecture featuring an interior row of skylights was common for office buildings in the 1920s and 1930s and handily adapted into sun-filled apartments in the 21st century by a local developer.

TOTAL DEVELOPMENT COST:

$6 million

KEY FINANCING:

  • Federal historic tax credits
  • Tax increment financing from the city
  • Construction loan

IMPACT:

  • Further anchors the redevelopment of up and coming Knoxville neighborhood
  • Mixed use development of office and affordable residential apartments
  • Renewed use and preservation of the Tennessee Valley Authority's headquarters