|Photo: Southeastern Development Associates
Regal plans to use the entire office tower with more than 400 employees.
The office tower is part of an overall development known as "One Riverwalk."
In addition to Regal Entertainment Group's new world headquarters, the project along the South Knoxville waterfront will include multifamily housing, student housing, two professional buildings, retail/restaurant spaces, and a hotel.
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Southeastern Development Associates is the project developer. The Atlanta-based company said the multifamily aspect includes 300 apartments that are currently under construction and the first units should be ready in 2017.
Southeastern said the student housing is on a similar schedule.
Regal received millions in incentives to make the move, but the company will be responsible for paying taxes, insurance, maintenance, and utilities. It's estimated it will cost Regal Entertainment up to $13 million to renovate the site.