For 15 years, visitors to downtown Chattanooga, Tennessee wondered when somebody would build in that ugly vacant lot at 720 Market.
It took an Atlanta, Georgia company and strong support from local leaders to make that a reality.
Its expected to be an economic boost for the area.
The tree-shaded 700 block of Market Street is ideal for a mixed purpose property–upscale apartments, office space and retail on the ground floor. Most people would like to know–what took so long?
Kim White,, President of The River City Company, said “Well, there’s 3 things that made it happen, right? So you the right project, the right developer and the right timer and all three of those things came together..so we feel great about this project.”
This 28-million dollar project will be 10 stories with 125 apartments, including “affordable” units.
The developer, The Simpson Organization, did get a Payment in Lieu of Taxes agreement.
Kim White continued, “It was unanimous…by the city council and county commission…so its one of the few that everyone believes in fully.”