I completely agree with Corker on what downtown needs:
Adding to the more than 1000 units already being worked on in the Southside is this little reuse of rail land. It shows the demand and people whining about parking will need to get used to it. It’s never going to get better.
I was told this lot was available for $2m. It’ll be interesting to see how this project is received. The view lines will be unrivaled and the price point sounds pretty reasonable. The North Shore continues to be the place to be in downtown.
In case you missed it this weekend 190 new units were released to market…watch this one closely to see where the market is. Keep in mind that Wise is going to be finishing more units just up the street in less than six months. Can you say saturation:
Change is hard. Growth, while a good problem to have, will bring with it more. More traffic. More noise. More people. That’s what growth is…
This smaller project shows the interest in apartments outside of downtown. It remains to be see what the market response is to this and the larger project announce a couple months ago. With pricing similar to downtown it’s not clear the appeal. We shall see:
The 86,890sf Edney Building is listed for sale at an asking price of $9,950,000 ($114.50psf). Another one to watch and see where it closes. Given the weakness of the office market this could be a turn to stronger market.
I was a little surprised to see the Southside Sculpture Plats project is already on the national market. No price but this will be one to watch and see where the national market thinks we are:
It’s not just the residential areas that are affected by this issue. This level of contamination and required remediation can add a substantial cost to any project. Given Chattanooga’s history it is wise to have at least a Phase I and likely a Phase II completed prior to getting serious about any purchase.
Per usual residential is leading commercial. Look for commercial developers to be jumping into OZs by the end of the year: