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KNOXVILLE, TENN. — Blanchard & Calhoun Commercial, an Augusta, Ga.-based real estate developer and brokerage firm, has purchased a 23-acre waterfront property formerly known as Baptist Hospital in Knoxville for approximately $6.3 million. Blanchard & Calhoun plans to develop a $160 million mixed-use project known as Riverwalk at the Bridges at the waterfront site. The project will include luxury apartments, student housing suites, a waterfront hotel, restaurants, retail and office space. The development is expected to create 2,000 new jobs in the area. Demolition of the existing Baptist Hospital will begin early this year.