Chattanooga Mayor on Panel for Green Development in Pittsburgh

According to the Pittsburgh Post-Gazette, Chattanooga Mayor, Ron Littlefield, was a part of a panel of four "experts" on green development brought to the Neville Island area of Pittsburgh, PA by Carnegie Mellon University. Neville Island was an industrial site and hazardous waste dump. The panel spent two "intensive" days studying the site, its progress, and its plans, then making recommendations.

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Forbes Article Features Chattanooga "Rebirth"

Forbes Magazine recently featured an article on Chattanooga's rebirth through technology. The article provides a good rundown of the last couple of decades of economic history in Chattanooga and shows why the current economic state might be considered a "rebirth".

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Chattanooga Condo Market Stable

From WRCB-TV 3:

"All real estate is local," said Randy Durham. And that is good news, considering.
Monday evening, NBC Nightly News featured condominium complexes across the country that have gone bust. But, here in Chattanooga, even with new construction going up seemingly everywhere...along the Northshore, downtown and the Southside...the condo market remains steady.

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Chattanooga Real Estate Market Makes Positive Move

From the Chattanoogan:
According to figures released by the Chattanooga Association of Realtors Multiple Listing Service, Southeast Tennessee and Northwest Georgia saw a combined 489 listings sold in the month of February. This figure represents a 15 percent decline in sales from the same month in 2007, though it was also recognized as the region's third best real estate year on record.

The Chattanoogan

Schimpf Taking Over Riverfront Project as Florida Developer Bows Out

From the Chattanoogan:
Developer Buck Schimpf said he is taking over a multi-million-dollar downtown riverfront project announced earlier by a Florida developer.Mr. Schimpf said he is set to close on the purchase of just under six acres at the old Gilman Paint site on April 3.He said the project will include a hotel, restaurant, a new marina, condominiums and townhomes.

The Chattanoogan

Westinghouse wins tax break, but will pay schools portion

From the Chattanooga Times Free Press: Westinghouse Electric Co. on Tuesday won an 11-year property tax break related to its planned expansion slated to add 52 jobs in Chattanooga. But, in what’s believed to be a first for a payment in lieu of tax agreement in Hamilton County, Westinghouse will continue to pay the schools portion of its tax bill, an official said. “That’s something we’ve struggled with here,” said Dan Mayfield, chairman of the county’s Industrial Development Board, which approved the tax break. “It’s great you’re using this project to set a precedent."

Chattanooga Times Free Press

BRT Acquires Chattanooga Garden Apartments

"BRT REALTY TRUST (NYSE:BRT) reported today that it acquired by deed in lieu of foreclosure a 308 unit garden apartment complex located in Chattanooga, TN. The property, which secured a first mortgage loan with an outstanding principal balance of $25.7 million, was deeded to BRT by the borrower in accordance with the terms of a "walk-away guarantee" provided by the borrower's principal."

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Kinsey Probasco to redevelop ALCOA site

ALCOA announced this morning that it has signed a letter of intent with a Kinsey, Probasco and Hays to redevelop the 350-acre former ALCOA West Plant property. The West Plant, which opened in 1920, was ALCOA's first fabrication facility.

Daily Times
Knoxville News Sentinel

Chattanooga Needs a Downtown Grocery Store

It's official. Chattanooga needs another downtown grocery store. Bueller's is it. Have you been in there? Very nice folks. Interesting offerings. High prices. The planning commission has looked at Chattanooga's downtown market, and some have concluded downtown needs more than Bueller's, despite the nostalgia any downtowners may have for it.

See more in the Chattanooga Times Free Press.