New Tallest for Chattanooga?

[Hankster]

I pariticated in the Chattanooga Urban Living Tour of Homes today. I saw some great downtown properties. The whole housing scene downtown is exploding. While on the tour I talked to a real estate agent who has sold condos in numerous downtown projects. He told me that developers are seriously wanting to build a downtown condo tower on Chattanooga's southside downtown area. They want this tower to be as tall as Chattanooga will allow. He said that currently they are not allowed to build taller than the 21 Story, 300 Ft tall Republic Center. Still that would allow a 23 story condo tower, but the developers want to go higher. Hopefully, we will hear an announcement about this before too long.

[flith]

I pariticated in the Chattanooga Urban Living Tour of Homes today. I saw some great downtown properties. The whole housing scene downtown is exploding. While on the tour I talked to a real estate agent who has sold condos in numerous downtown projects. He told me that developers are seriously wanting to build a downtown condo tower on Chattanooga's southside downtown area. They want this tower to be as tall as Chattanooga will allow. He said that currently they are not allowed to build taller than the 21 Story, 300 Ft tall Republic Center. Still that would allow a 23 story condo tower, but the developers want to go higher. Hopefully, we will hear an announcement about this before too long.

[smurf]

And the republic center is only actually 260' to the roof and 275' to the top of the penthouse, so if that applied, it would make it even shorter.

[DowntownAdam]

I work for one of the more prominent real estate development companies in Chattanooga and we have completed several residential projects downtown and are in the planning stages of others. We've talked about high rise and there is no way Chattanooga is ready for anything larger than five to six stories, maybe seven depending on parking and retail. The condo supply downtown is pretty high right now, especially on the investment side, so we'll have to see how One North Shore and the Museum Parkside projects pan out.

Land is cheaper on the Southside so it makes more sense to use the land mass. High rises are usually found on more expensive and smaller pieces of land where you need to go tall to get the economies of scale.

[Hankster]

I work for one of the more prominent real estate development companies in Chattanooga and we have completed several residential projects downtown and are in the planning stages of others. We've talked about high rise and there is no way Chattanooga is ready for anything larger than five to six stories, maybe seven depending on parking and retail. The condo supply downtown is pretty high right now, especially on the investment side, so we'll have to see how One North Shore and the Museum Parkside projects pan out.

Land is cheaper on the Southside so it makes more sense to use the land mass. High rises are usually found on more expensive and smaller pieces of land where you need to go tall to get the economies of scale.

[Justiceham]

We've talked about high rise and there is no way Chattanooga is ready for anything larger than five to six stories, maybe seven depending on parking and retail.

[Rural King]

Why does Chattanooga have a height limitation on construction in the CBD? That was unexpected. Well actually maybe not since many cities do, I just was suprised to hear Chattanooga did I suppose.

[ATLBrain]

I work for one of the more prominent real estate development companies in Chattanooga and we have completed several residential projects downtown and are in the planning stages of others. We've talked about high rise and there is no way Chattanooga is ready for anything larger than five to six stories, maybe seven depending on parking and retail.

[flith]

Why does Chattanooga have a height limitation on construction in the CBD? That was unexpected. Well actually maybe not since many cities do, I just was suprised to hear Chattanooga did I suppose.

[DowntownAdam]

I'm legal counsel for several large financial clients in Chattanooga. So I travel up there often. As such, we chat from time to time on our respective cities. I too have heard of a hi-rise condo and mixed use at around 20 stories. I even heard of the purported developer who is out of Atlanta. Not much on details, but this rumor did not have it on the southside. It would "go up" near Fourth and Broad. I heard that one about two months ago.

[Fellowmann20]

And the republic center is only actually 260' to the roof and 275' to the top of the penthouse, so if that applied, it would make it even shorter.

[smurf]

Actually, the Republic Centre is exactly 300 feet tall. Here is the link on the building from Emporis.

[flith]

I'm legal counsel for several large financial clients in Chattanooga. So I travel up there often. As such, we chat from time to time on our respective cities. I too have heard of a hi-rise condo and mixed use at around 20 stories. I even heard of the purported developer who is out of Atlanta. Not much on details, but this rumor did not have it on the southside. It would "go up" near Fourth and Broad. I heard that one about two months ago.

[ATLBrain]

I've heard that the cinema is being considered for this project. Obviously, a project at this location would need mixed-use with at least three times the amount of parking already there (5-6 levels?). A contractor has recently been monitoring the parking site for demand at various times during the week. The retail/entertainment/office portion would take up the bottom 3-5 stories. So already, you would have aproximatly 8-11 stories, and the market for office and/or residential is being tested by these developers. They may be on to something as they're looking at rental apartments. There are a lot of new condos for sale. However, there were many renters displaced by the demolition of Cameron Hill Apartments. There are some new apartments going up at Walnut and Third (I think that's the location). It would seem that office would be the weakest link, but they've found what they think is a niche in the DT market with professional services. They are experienced developers, and they've done their homework. From this article, they appear to need the cinema to make it work.

I've been told that the numbers for building rental units works much like the numbers for hotel units in that costs have skyrocketed in recent years. That's why there have been so many mixed use/hotel projects lately. For this project the components would have to work together to see this rise. They're looking at b/n 120 and 150 rental units. With the gradual setbacks as it rises, it would have from 20 (lower floors) to 10 (upper floors) units per floor with pool, fitness, and activity facilities on the levels above the garage.

It could rise as high as 21-stories with multiple setbacks. The sketch I saw was quite attractive.

[flith]

I've been told that the numbers for building rental units works much like the numbers for hotel units in that costs have skyrocketed in recent years. That's why there have been so many mixed use/hotel projects lately. For this project the components would have to work together to see this rise. They're looking at b/n 120 and 150 rental units. With the gradual setbacks as it rises, it would have from 20 (lower floors) to 10 (upper floors) units per floor with pool, fitness, and activity facilities on the levels above the garage.

It could rise as high as 21-stories with multiple setbacks. The sketch I saw was quite attractive.

[ATLBrain]

I don't know, but I'll ask if/when the subject comes up again.

[Hankster]

I've heard that the cinema is being considered for this project. Obviously, a project at this location would need mixed-use with at least three times the amount of parking already there (5-6 levels?). A contractor has recently been monitoring the parking site for demand at various times during the week. The retail/entertainment/office portion would take up the bottom 3-5 stories. So already, you would have aproximatly 8-11 stories, and the market for office and/or residential is being tested by these developers. They may be on to something as they're looking at rental apartments. There are a lot of new condos for sale. However, there were many renters displaced by the demolition of Cameron Hill Apartments. There are some new apartments going up at Walnut and Third (I think that's the location). It would seem that office would be the weakest link, but they've found what they think is a niche in the DT market with professional services. They are experienced developers, and they've done their homework. From this article, they appear to need the cinema to make it work.

I've been told that the numbers for building rental units works much like the numbers for hotel units in that costs have skyrocketed in recent years. That's why there have been so many mixed use/hotel projects lately. For this project the components would have to work together to see this rise. They're looking at b/n 120 and 150 rental units. With the gradual setbacks as it rises, it would have from 20 (lower floors) to 10 (upper floors) units per floor with pool, fitness, and activity facilities on the levels above the garage.

It could rise as high as 21-stories with multiple setbacks. The sketch I saw was quite attractive.