The City of Knoxville owns a portion of the 500 block of Gay Street and has executed a letter of intent with Regal Entertainment Group to develop an eight-screen, 2,000-seat movie theater at this location.

The Architect is TK Architects, Inc. out of Kansas City, Missouri.  The Construction Manager is Blaine Construction Corporation.  The total project budget is $14,200,000.00.

Construction was deferred until June 2006 when the funding issues were resolved.  Working with surveyor to finalize plat.  Footings have been poured and are 60% complete.  Stem walls have been poured along Gay Street.  Block work began the week of July 24.  Steel erection should begin the end of August.  The project is 46% complete.

The project is expected to be completed May 2007.