Kronos Capital provides update on Market Street project

CHATTANOOGA, Tenn. (WDEF)- Developers with Kronos Capital looks to turn this Market Street building into a new multi-purpose development. 

“We are going to do up to a 312,000 square foot building, taking over 212 and 200 Market Street, replacing it, and offering the community in Chattanooga three luxury retailers, an art gallery, multiple condominiums for sale, not for rent,” said Nash Bowen, CEO of Kronos Capital 

Kronos Capital is a private equity firm that focuses on transformative projects that enhance communities. 

Bowen explains why it’s important to develop downtown’s Market street. 

“We love having the concept of having these real retail locations and upscale eateries here in Chattanooga, because people here deserve it,” said Bowen. “They are having to drive to Nashville, they are having to drive to Atlanta, and this city is deserving of something nicer, and we are ready to bring it.” 

 This new project will provide more than 350 jobs to Chattanooga. 

Abbie Cook, Advisor with Kronos Capital considers Chattanooga a historic city. 

“Our vision for it is to bring the Chattanooga historic charm into this building, although it will be a new building, that is really our overall goal,” said Cook. 

According to Kronos Capital The Project is expected  to bring in more than 9-hundred thousand dollars in tax revenue to Chattanooga. 

Bowen hopes to see this development grow Chattanooga economically AND socially . 

“We want to do what makes Chattanooga happy. So if it gets approved in January for 12 stories, then we will go with 12. If it does not, then we will go with 6, right after that decision. We are gearing towards development, we will have to go through a demolition phase on these two buildings, and then we will start building from the ground up,” Bowen concluded.

The Project will go before City Council in order to be approved.