August 2, 2017 (Denver, CO) — RESIGHT, an industry leader in redeveloping distressed and impaired real estate, is proud to announce the closing of the first sale in the West Plant Redevelopment project in Alcoa, Tennessee to Springbrook properties for new residential lots development.
“We anticipate this being the first of many sales in the near future as we transform the former West Plant.” said Mikk Anderson, Senior VP and Founding Member of RESIGHT. “The rapid progress from groundbreaking to this first closing in just a few months is a strong indicator of the potential impact of this dynamic project.”
Danny Kirby, a partner with Springbrook Properties, said the company is excited to participate in the first phase of the West Plant redevelopment. “Alcoa is a vibrant community with strong potential for new residential development,” Kirby said. “We plan to build classic, Craftsman-style homes that combine a small-town feel with big-city convenience. This project will be a complement to the historic Springbrook neighborhood, and to the great schools and amenities nearby, including the ball fields, park and community swimming pool.”
Maribel Koella, principal broker of NAI Koella | RM Moore, said NAI is grateful for the opportunity to work with RESIGHT and the City of Alcoa on the project. “Redevelopment of the West Plant site will have a significant positive impact on Alcoa and Blount County,” Koella said. “RESIGHT’s long track record of transforming former industrial land makes it a perfect fit for this project, and NAI is proud to work alongside them.”
The project plans include a master planned “City Center” development consisting of a retail lifestyle center, multi-family residential, commercial office space, a hotel and conference center, and a new City administrative center. RESIGHT is working closely with the City of Alcoa to obtain state and local grant funding for transportation improvements, redesign the City utility service plan and rezone appropriate parcels.
RESIGHT is a value-add real estate investment and redevelopment company that specializes in opportunistic investment strategies for reuse of industrial, institutional assets and distressed sites. RESIGHT acquires and repositions distressed and impaired real estate in primary markets throughout the United States to create value for sellers, investors and communities. RESIGHT has more than three decades of experience redeveloping distressed and impaired real estate, and the necessary resources to transform impaired assets into productive, sustainable holdings by overcoming the complex financial, risk and legal obstacles that typically derail real estate redevelopment projects.
For more information, please visit https://www.resight-ai.com/
Senior Vice President and Founding Member
Executive photos are available upon request.