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For the past twenty years these buildings in the heart of downtown Chattanooga have remained partially vacant and underutilized. There were a multitude of difficulties in revitalizing these properties. Assembling all of the buildings from the various owners proved difficult, with the final two buildings purchased in 2005. The entire block has suffered due to lack of available close by parking. Other limiting factors include the narrow 25-foot frontages, the excessive 120-feet building depth and the fact that the floorplates of each building did not line up. These buildings were also in extremely poor condition. Following demolition, the new development will include 12,000 s.f. of street-level retail space, 12,000 s.f. of Class A office space on the fourth floor, and 58 new well-appointed residential units with a contemporary design. The average size unit will be 1,028 s.f. A dedicated 182-car parking garage accessed directly from Market Street will provide on-site parking for residents, tenants and customers. This project will serve as a stimulus for other revitalization in this core area of the central business district.
Investment: Total cost approximately $12 million
Architect: Andy Smith, Preservation Studio South
Developer: Trafalgar Development Corporation @ 423/443-4224
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