The developers who proposed building about 500 condominiums and townhouses on Chattanooga’s Stringer’s Ridge have scrapped their plans.
Mike Cooke and Chris Anderson have walked away from their project, said Jimmy Hudson of The Hudson Cos., the site’s owner. The developers’ option on the property expired March 21, he said.
Mr. Cooke and Mr. Anderson could not be reached for comment Tuesday.
Mr. Hudson said that while “some kind of housing” is the best use for the property that overlooks downtown and the North Shore, it’s too soon to know whether he would consider developing the site himself.
However, conservationists and others have called for the site to be set aside as a park.
“The trust is interested in the future of that property,” said Rick Wood, director of the Chattanooga office of The Trust for Public Land. “There’s real estate value there, and it would take the financial support of the community. And there’s civic and public value there.”
But Mr. Wood said it’s too soon to know if a park is viable.
Mr. Cooke’s and Mr. Anderson’s rezoning plans for the site have bounced around since January.
The Chattanooga-Hamilton County Regional Planning Commission was scheduled April 14 to consider rezoning for the Stringer’s Ridge site. The Chattanooga City Council had voted March 11 to refer the case back to the planning commission.
The developers first presented their project to the planning commission in January, and the panel approved the rezoning of 98 acres but recommended limiting the project’s scope.
Mr. Cooke and Mr. Anderson had wanted to build six-story condos. The planning commission recommended a three-story limit, and sent the case to the City Council, which deferred a hearing in February.
Area residents voiced numerous concerns about traffic and congestion. Some said there had been Civil War-era cannon emplacements on the site.
And there was concern over the possible presence of Chattanooga shale, a rock that produces radon gas and sulfuric acid runoff when exposed to rain and air.
Residents also opposed the developers’ plans to remove the top of the ridge for infill dirt.
Jay Floyd, an area resident and a developer, had concerns about soil erosion and noise from nearby industrial sites.
“A steel manufacturing operation is below this thing. Herman Grant makes noise that will go up (the ridge),” he said earlier after a community meeting with developers.