416 S Gay St

A 1905 landmark converted from the historic JC Penney department store into downtown Knoxville loft residences, the building retains industrial-era character while offering modern condo conveniences. The property spans multiple stories with elevator access and roughly a dozen to twenty residential units in a mixed-use envelope that includes street-level entertainment and dining. Interior features commonly found across units include tall, cathedral-like ceilings, exposed brick and original wooden beams, hardwood floors, oversized windows that bring abundant natural light, and open-plan living with eat-in kitchens, kitchen islands, breakfast bars, and dry bars. Many residences were renovated in the 2010s with contemporary finishes such as concrete or granite countertops, custom cabinetry, updated lighting, and modern appliances; select units offer juliet balconies, in-unit laundry rooms, and large walk-in closets. Building systems emphasize secure access with monitored entry and elevator controls; common exterior elements are vinyl windows. Shared amenities reflect an urban lifestyle — immediate walkability to Market Square, Tennessee Theatre, Old City and the University of Tennessee, plus adjacent retail and nightlife. Parking is available separately in the Promenade Garage and nearby public garages; short-term rentals are restricted. Pet policies and parking details vary by unit; condominium HOA services and security measures support downtown living.