Downtown Kingsport property values soar
Downtown Kingsport is showing signs of success.
We learned property values are skyrocketing.
Kingsport officials report taxable property value in the Model City's downtown district jumped more than $22 million during the last year. That's a 20 percent increase in one year.
Kingsport city officials told us while all of downtown is showing a sign of improvement, most of the growth comes from the recent redevelopment of the Kingsport Press area of downtown.
"Having all that happen in five years, to transfer from a closed industry to a retail-medical office and farmer's market hub is a pretty remarkable story of any city," said Jeff Fleming, assistant city manager of development.
We're told Kingsport's downtown property value has nearly doubled since 2000, growing by more than $64 million.
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