Developer John Wise is bringing 60 rental units and more than 10,000 square feet of retail space to the Southside on the corner of Market and Main streets next year.
The parcel of land will be known as Main and Market Apartments and is being developed by Wise Properties.
Leaders with downtown economic development organization River City Company sought input about the project from an advisory group that included downtown stakeholders, urban designers, architects and developers—including former director of the Urban Design Studio Stroud Watson—according to a news release from River City.
"I understand the importance of this gateway for the Southside and the investment that has been made in this area," Wise said in a prepared statement. "By working with the River City Company advisory group and through their stringent design process, we’ve been able to create a development that meets a need downtown and that I feel will be an enhancement to the area."
Construction will start sometime in early 2014 and is slated to be finished by late 2014 or early 2015.
Main and Market Apartments will be living spaces that range from 1,500-square-feet efficiencies to three-bedroom apartments.
The street level of this development will be available for retail leasing and offer resident and guest parking, according to a news release.
President of River City Company Kim White said the new development provides needed rental living space.
"Acting as an entryway to our downtown, the intersection of Main and Market streets holds great potential for our city," she said in a prepared statement. "This type of development that is sensitive to both a need in our city and the quality design history River City Company strives to uphold will further revitalize Main Street and further qualify downtown Chattanooga as the place to live, work and play."
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