Kingsport’s housing market is booming.
“What we are seeing in Kingsport right now is the fruits of years of hard work by many people behind the scenes,” said Alderman James Phillips. “Kingsport had over 700 new market-rate apartments built in a two year period and they are now all full and we need more. That caused a lot of people to take notice both in the city and on a national level that if they keep building in Kingsport, the housing keeps selling and apartments keep filling up.“
The city is continuing to see a vast influx of people who want to call Kingsport home, causing a spike in residential development to meet that demand. This flourishing market will have a considerable impact on the city’s economic growth over the next several years.
In February 2021, there were over 600 lots in development in Kingsport. Recently, that number has grown to over 1500 lots. Single family houses and townhomes are in development in locations like West Park, Cherokee Bend, Gibson Springs and Hunts Crossing, along with other great local spots. All the new homes popping up around the city will eventually mean over 1,000 new students for our school system and about $375 million in new home sales. All of this money will go on to stimulate Kingsport’s economy, improving quality of life for all citizens.
Over the last year, Kingsport staff and Board of Mayor and Aldermen (BMA) have made a concentrated effort to assist in making Kingsport an attractive place for developers and builders to do their work. Strategic Planning initiatives that focus on housing and development include hiring of a development coordinator to serve as a “one-stop-shop” point of contact, as well as new regulations and processes to streamline reviews and approvals.
Kingsport’s BMA supported the creation of ‘West Gate,’ a new residential development. The BMA approved a tax-increment-financing (TIF) plan to help the process of redevelopment move forward, making it possible for the property site to serve a purpose once again after remaining vacant for 18 years.
The city has invested in new technology to allow builders, contractors, and developers to apply for permits and submit plans electronically. This new technology will provide real time updates to applicants, letting them know where their submittal is in the process.
All of this new development also serves to attract a diverse group of builders and developers from various locations on a local, regional, and even national level. There are currently more than a dozen builders and developers working on the active developments in the city.
“As a developer and BMA member, I love talking to builders and developers who do business with our city,” said Alderman Phillips. “We are often told our building and planning departments are very easy to work with and a great help throughout the entire process. We don’t want to just be the best city to live in, we want to be the best city to build in as well.”
The Brickyard property acquired by the city is also under development and an informational meeting for interested developers is being held June 23 with proposals due August 6. For more information, please contact Kingsport’s Economic Development Department via email at firstname.lastname@example.org or call John Rose at 423-229-9310.
Are you looking to build in Kingsport? You can contact Keith Bruner at 423-229-9320 or visit the Building Department’s webpage at www.kingsporttn.gov/city-services/building/.
To learn more about Kingsport’s economic development, please visit www.kingsporttn.gov/ecd.