Titans10
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Posts posted by Titans10
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I find it hard to believe this building is needed or will actually happen but man it would be nice to have a new tall building with a modern look.
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On 5/2/2023 at 8:12 AM, MidTenn1 said:
More on the groundbreaking for the new Embassy Suites hotel per the Chattanooga Times Free Press, including my updated card.
Glad to see a quality hotel taking that empty lot
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On 9/8/2022 at 2:29 PM, Titans10 said:
722 Apartments, Retail, Marina, Large Parking Deck Planned At Current Fuel Farm On Manufacturers Road
A Nashville development group is planning a large number of residential units along with 52,000 square feet of ground level retail space on the North Shore.
Beacon Acquisition Group plans to take down the fuel tanks on 10.5 acres at 706-710 Manufacturers Road.
A six-story building with 722 apartments is planned at the site along with 1,342 of structured and ground level parking.
The site is to include a marina on the Tennessee River, a village green, and outdoor dining.
Looks like this passed the planning commission for re-zoning. https://drive.google.com/file/d/1FZZahbw68otU7QV9e1Mqv9OkY0um_FFd/view
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On 12/17/2021 at 7:10 PM, Titans10 said:
Picture of the 271 unit development being planned for 430 Manufacturers Rd. across from Whole Foods on the North Shore.
I'm still amazed the property less than a half mile down the street was denied by the planning commission
Work started this week
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722 Apartments, Retail, Marina, Large Parking Deck Planned At Current Fuel Farm On Manufacturers Road
A Nashville development group is planning a large number of residential units along with 52,000 square feet of ground level retail space on the North Shore.
Beacon Acquisition Group plans to take down the fuel tanks on 10.5 acres at 706-710 Manufacturers Road.
A six-story building with 722 apartments is planned at the site along with 1,342 of structured and ground level parking.
The site is to include a marina on the Tennessee River, a village green, and outdoor dining.
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I took a drive down Hixson pike away from downtown the other day and once you get past Northgate Mall there are neighborhoods popping up everywhere, I didn’t even recognize the area at one point because of all the new construction. Chattanooga and surrounding areas definitely seem to be booming right now. New houses popping up everywhere they can fit them in the North Chatt/Red Bank area.
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2 hours ago, BnaBreaker said:
That is going to be such an astronomical upgrade for that part of town, but, I'm not going to lie. A part of me is going to miss that old ragged behemoth. It is what has welcomed me to Chattanooga as I round the bend from the north for my entire life. It's going to feel so different not seeing that there to greet me.
From the rendering it looks like it will continue to greet you, just cleaned a bit. I think that would be cool if it’s apart of the stadium, it could be a cool outdoor concert venue as well to make it multipurpose.
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Beyond a Stadium
Development begets development. Within 5-7 years, the project is expected to generate more revenue than necessary to pay down the bond used to fund the stadium constriction, allowing surplus funds to be directed to infrastructure needs and to other projects in the South Broad District.
The project is expected to generate at least $40 million in additional education funding for Hamilton County over the next 30 years — without the need to raise taxes.
The development goals ($350 million for Phase 1 and/or $1-1.5 billion for full build-out) are very achievable. The two prior projects led by the Lookouts ownership has already led to over $1 billion in investment around the stadium in Fort Wayne, Indiana (in approximately 13 years) and over $650 million in investment around the stadium in Columbia, SC.
The public will also receive a land and building donation valued at approximately $10,000,000 from the current owners of the site.
Building a Stadium
Construction of the stadium will cost approximately $79.5 million ($72 million build + $7.5 million for bond issuance and capitalized interest costs). 96% of the funding to construct the stadium will come from the project itself through investment from the private developers and payments from/generated by the Lookouts in the new stadium:
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63% — property tax on the new private development
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22% — the Lookouts $1M+ annual lease payments
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6% — state sales tax generated in new stadium (most of which would otherwise go to the state)
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4% — parking revenues from stadium events
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1% — local sales tax generated in new stadium
Only 4% comes from the City and County:
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2% — City of Chattanooga
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2% — Hamilton County
This financing strategy involves use of an economic development tool called tax increment financing (TIF). With approval from the City Council and County Commission, the City and County will be able to use a portion of the increase in property tax revenues resulting from the new development to service the bond payments on the stadium, allowing the project to more than pay for itself.
Stadium Rent & Maintenance
The Lookouts annual rent will exceed $1 million a year for the next 30 years, higher than any other team in Minor League Baseball. For comparison, the Lookout’s rent will be approximately 150% of the rent paid by the minor league team in Nashville (https://www.nashville.gov/departments/sports-authority/first-horizon-park) and over 275% of the rent paid by the Tennessee Titans at Nissan Stadium (https://www.nashville.gov/departments/sports-authority/nissan-stadium).
In addition to a high annual rent, the Lookouts will pay for all ordinary operations and maintenance for 30 years — projected to be $45,000,000 over 30 years.
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Chattanooga looks to be on the explosive growth train
Anticipated new Lookouts stadium at Wheland Foundry site causes mixed community reactionlook for an announcement sometime today regarding a new $70 million dollar lookouts stadium and a $1 billion dollar development. Chattanooga’s west side about to be transformed all along the riverfront.
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FIFA World Cup decision day, are we in or out? Anyone heard anything?
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Nashville Developer Plans 2 Large Apartment Buildings, Commercial Space On 7 Acres On Manufacturers Road
https://www.chattanoogan.com/2022/3/23/445827/Nashville-Developer-Plans-2-Large.aspx
A Nashville developer is planning two large apartment buildings on over seven acres at 702 Manufacturers Road.
Beacon Acquisitions LLC is seeking rezoning and an ability to go to five stories high in an appearance before the Planning Commission in April. The limit is four stories without a variance.
There will also be some commercial space.
One building is to have 74,515 square feet and the other 45,540.
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It seems this stadium thing is beginning to have legs
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7 minutes ago, BnaBreaker said:
Didn't Chattanooga just build the current Lookouts stadium relatively recently? Seems like there'd be a great number of things that would be a better usage of that money than replacing a lightly used minor league baseball stadium.
It’s like 22 years old and honestly not the best stadium, the bulk of the stands face the sun so you literally bake in the sun to watch the game. The city I think also owns the property and I know they want to sell it to develop it.
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16 minutes ago, MLBrumby said:
Thanks for keeping us posted on Chattanooga. Now that I don't go downtown daily and I haven't looked at the TFP since they switched over to iPad only (except for Sunday), so much gets past me.
I don’t catch much these days either unless I happen upon it while on Twitter since I don’t get TFP either.
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New Home2 Suites Hotel Planned Across From Convention Center That Would Include A 7th Floor Rooftop Bar
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$40 million Hilton planned for Chattanooga Bank Building
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Picture of the 271 unit development being planned for 430 Manufacturers Rd. across from Whole Foods on the North Shore.
I'm still amazed the property less than a half mile down the street was denied by the planning commission
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2 hours ago, Bark At The Sun said:
Minor league hockey games are great............i actually prefer to go to those instead of NHL games. I lived in Little Rock Arkansas in the mid-late 90's, and there were 2 minor league hockey teams at the same time for a couple of years.............Arkansas Glacier Cats (WPHL) played at Barton Coliseum, and the Arkansas Riverblades (EPHL) played at Alltel Arena.
I wish Chattanooga would push for an arena downtown next to Finley Stadium for some minor league hockey/concerts, there is nothing to do in the winter
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Any chance they get this done March 27th for the USMNT vs Panama and that is the announcement that they are opening the stadium…hence the fireworks?
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https://twitter.com/livelifedrake/status/1461759373261291521?s=21
Big announcement (s) coming Monday morning at Nashville SC Stadium on the Fairgrounds. CEO Ian Ayre will be present. Fireworks loading #EveryoneN
naming rights!?
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Redevelopment continues in Downtown!! "The John Ross Building, which borders Fourth Street and runs between Market and Broad streets, will shed its no-window look to become modern offices, officials said Thursday." - @TimesFreePress
Continue reading: buff.ly/3DEWZME
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On 10/2/2021 at 7:26 PM, BnaBreaker said:
Sounds like a hell of a project! It'll be cool to see it coming right into town on I-75... one of these days I want to make it to a Red Wolves game. It'd be awesome if they could form an affiliation deal with Nashville SC.
don’t support that trash club. Thanks.
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The Bend Development At Alstom Site To Include 5-Level Parking Garage, 10-Story Office Building
https://www.chattanoogan.com/2021/9/9/434455/The-Bend-Development-At-Alstom-Site.aspx
The Bend development at the Alstom site will include a five-level parking garage in addition to a nearby 10-story office building, according to plans submitted to the Form Based Code Committee.
The garage will be able to serve 67 vehicles on the ground level and 177 on each of the five raised levels.
Plans show a sleek new 10-story office building nearby.
It is shown at the end of a canal that is planned at the ambitious project.
The latest plans also show a future medical office building, a future mixed-use building and a future office building.
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Rebirth of Downtown Chattanooga (2006 and on)
in Chattanooga and Knoxville
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Chattanooga City Council unanimously approves extra floor for North Shore development
https://www.timesfreepress.com/news/2023/sep/12/chattanooga-city-council-oks-extra-floor-development-tfp/
The Chattanooga City Council unanimously approved Tuesday a seven-floor apartment complex on Manufacturers Road, one floor above the maximum allowed on the North Shore under the zoning regulation that governs the city's downtown.