City and County leaders announce agreement for Westside community

CHATTANOOGA (WDEF) – The City of Chattanooga and Hamilton County unveiled a partnership to revitalize 300 acres of property in the Westside Evolves neighborhood.

The Westside community will be next to the new proposed and privately funded The Bend development on the riverfront.

City and County leaders say Westside Evolves will create affordable housing for more than 2,000 people.

At least 10% of all rental units in the project will be for people making 80% or less than our median income.

It’s part of the larger project promising new commercial space, green space and adding 9 acres to the Riverfront park.

Chattanooga Mayor Tim Kely says “This project essentially adds a whole new neighborhood to Chattanooga, and transforms another, so it’s not a stretch to call this a generational opportunity.”

The partnership includes a lot of entities… city and county government, Hamilton County Schools, Chattanooga Housing Authority, and Urban Story Ventures.

It will be paid for through a TIF (tax increment financing), which means the private developers put up the money to build and then get paid back from the future tax dollars.

Hamilton County Mayor Weston Wamp was originally skeptical that this would work.

But he is all in now.

“This agreement represents a new approach to economic development in which the priorities of the citizens of Hamilton County and the City of Chattanooga are aligned closely with the
developers,” said Hamilton County Mayor Weston Wamp. “Jimmy White and his team at Urban Story Ventures are visionaries who care deeply about our community, and I’m grateful they
understand the importance of public education to the future of our local economy.”

The Bend is a private development that will include public “draws” to their community, like parks.

The proposed new stadium for the Lookouts will be nearby.

Chattanooga Housing is involved in hopes they can land grants to offer new, affordable housing for downtown residents in the Westside community next to The Bend.

Chattanooga will offer and pay for city services to the area.

And Hamilton County is talking about new educational benefits (possibly a new school).

Today’s announcement is just an early step in the plan.

It still must be approved by boards, have a public input session and survive votes by both the city council and county commission.