Rowhomes & Brownfields
The downtown development of Chattanooga continues, as the developers (Dale Mabee & The Moon Brothers) of the 2nd set of Cherry Street Townhomes have purchased an option on the block between 2nd-3rd-Cherry & Walnut Street.
None of us will ever be able to afford to live there. I think Lookout Mountain may be planning a mass migration or something.
Bill Hullander, why isn't Enterprise South a Brownfield? I'm not doubting that it may not be or shouldn't be categorized as such, but I'd sure like to know why.
Chattanooga News | By Josiah Roe | 11:24 AM
Comments
Five miles north of St. Elmo in geography and an order of magnitude north of St. Elmo in price. Sheesh. I mean, I know there are some wealthy people in Chattanooga, but is there really enough cash flowing around that the market can suddenly absorb an extra $15 million in dwelling units?
Posted by: ryan at February 16, 2007 11:46 AM
Ryan, it's a little crazy how much development is going on. There are new condo/apartment buildings being built on Frazier, 1 North Shore, 2 North Shore, the Knitting Mill is going to add I think 12 more units in their upstairs, all the downtown townhomes & condos, plus all the renovation and construction occurring in and around East Main, Jefferson Heights, and the Southside.
The East Main & Jefferson Heights construction is looking to be the most affordable right now. I'd love to snag a loft/condo in one of those renovated spaces.
Posted by: Josiah at February 16, 2007 11:50 AM
Sweet. That means that by the time I'm ready to buy in Chattanooga, the market will be flooded with high-end housing, driving down prices to where I can actually afford to move!
Or not. I can always hope.
Posted by: ryan at February 16, 2007 12:23 PM
Whatev Mr. Notre Dame Law School Grad Lawyer. There are plenty of affordable housing options in Chattanooga outside of all the swanky new development. Like St. Elmo, just to name one.
Posted by: Josiah at February 16, 2007 3:16 PM
Heh. Law is a good gig, but Chattanooga ain't New York. Salaries in Chattanooga start at about 60% of what they would in a major metropolitan area. I'd have to make partner before being able to afford anything remotely that swank.
Posted by: ryan at February 16, 2007 3:56 PM
or RED BANK! REPRESENT!
Posted by: daniel at February 16, 2007 3:56 PM
just what we need downtown more places that nobody can afford to live in.
Posted by: James at February 17, 2007 1:02 AM
