Leslie Newell Peacock files this report from a 10 a.m. news conference announcing the new River Market Tower (which we first reported here last night):

River Market Place, an $80 million River Market development that will include a hotel, an 18-story condo tower and new retail spaces in the Tuf-Nut buildings was announced this morning by Moses Tucker Real Estate.

Jimmy Moses and Rett Tucker said they plan to break ground on the project, on the block between Rock and Commerce streets and Third and Fourth streets, in May 2007 and are shooting for a January 2009 opening date.

The River Market Tower will offer 152 condos starting at the below-market cost of $200,000, Moses said, to attract younger buyers. The tower will include a tennis court and a basketball court atop the parking garage.


Five retail storefronts will be added to a remodeled warehouse in the Tuf-Nut Lofts. Another 7,000 square feet of retail space will be built on ground floor of the condo tower on Third Street.

The development will include a 16,500 square foot park between the hotel and the tower.

Moses Tucker is pre-selling units in the tower.

UPDATE: An eight-story hotel on the corner of Commerce and Fourth Street will likely be operated by Hampton Inn and Suites and will open Summer 2008.