The Eastern Band of Cherokee Indians of North Carolina recently closed on its purchase of 198 acres on the south side of Interstate 40 at Exit 407 in Sevierville, Tennessee.
The acreage, site of an uncompleted development called Dumplin Creek, had been listed at $13.5 million. The Tennessee Department of Transportation estimates 12 million vehicles use Exit 407 annually, since it’s a primary route to Sevierville, Pigeon Forge, Gatlinburg and the Great Smoky Mountains National Park.
Ashleigh Stephens, a staff member at the office of Principal Chief Richard Sneed, said the tribe is considering several options for the property, including a resort, branded hotels, retail and a convention hotel. Stephens said convention space could become gaming space if Tennessee changes its law to allow physical sportsbooks; last year the state passed a bill allowing online sports wagering.
Sevierville Mayor Robbie Fox said, “This is certainly great news for the City of Sevierville. The potential development of this property is exciting and we certainly want to work with the EBCI to make this a positive venture. We appreciate ECBI’s interest in the city of Sevierville and our area.”
The property will be developed by Kituwah LLC, a new business arm of the EBCI.
