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Downtown Kingsport property values soar

By Meredith Machen, mmachen@wcyb.com
Published On: Feb 05 2013 05:12:01 PM CST
kingsport
KINGSPORT, Tenn. -

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.