$1 billion commercial and residential in downtown Chattanooga
A recent national survey says Chattanooga offers affordable downtown living compared to national averages.
The average two bedroom rent goes for about $900, while nationwide it’s more than $1,100.
We took a walk through downtown and spoke with a couple of locals on what they think of growth in downtown Chattanooga.
River City Company Director of Marketing Amy Donahue tells us, “we have about 900 apartment units that are under construction right now. An additional about 720 student beds.”
But, it’s still not enough.
Donahue says the demand far outreaches supply.
“Projects that will go under construction soon. We have almost 1,400 apartment units that are going to go there.”
Rachel Cox works downtown and lives in East Brainerd.
She says she’d like to be closer to work.
“It’d be really convenient. Especially since we’ve got really good restaurants coming up downtown where I’m always downtown for dinner anyway.”
“We do see a lot of people in our downtown after 5:00 in certain areas. I think the Riverfront and North Shore and south side main street area, there are a lot of great things that happen in that area,” notes Donahue.
Downtown resident of three years, Joe Lipsey says he likes to be close to his neighbors and restaurants.
“We’re getting ready to go eat lunch right now downtown which 15 years ago, you wouldn’t want to do down here in Chattanooga. Now Chattanooga is on the map.”
700 Market St is building a 10-story retail and apartment complex, one of the tallest buildings in downtown Chattanooga.
Donahue says its a first of it’s kind since the 70’s.