A new $5 million, four-story structure planned for the heart of downtown's Southside will hold a cosmetic surgery center, commercial space and high-end condos, a North Georgia physician says.
"We wanted to be in a growing area," said Dr. Carey Nease, whose Southern Surgical Arts Cosmetic Surgery Center will anchor the building.
David DeVaney of NAI Charter Real Estate Co. said the project continues the mix of property uses in the Southside.
The tract at 1908 Cowart St., across from Nikos Southside Grill, also fronts Broad Street, he said. Mr. DeVaney said the one-acre site was sold by Trees Studios LLC to Nease Properties Development for $575,000.
Dr. Nease already operates surgery centers in Dalton, Ga., and Calhoun, Ga. He plans to transfer one of those sites to the Chattanooga location.
"I've been advertising in Chattanooga for over a year," he said. "About 30 percent of my business comes from the Chattanooga area."
Dr. Nease said his office will take up about a third of the 27,000-square-foot structure. The top floor will feature high-end, roof-access condominiums, he said.
The remainder of the space will hold commercial tenants, including a possible restaurant or a bank, Dr. Nease said.
"The space we create is going to be really beautiful," he said.
Dr. Nease plans to construct the building to meet Leadership in Energy and Environmental Design standards and seek at least a gold certification.
Construction is to start before the end of the year with completion in fall 2010, he said. Pre-leasing will start in the fall with Robinson Real Estate, Dr. Nease said. Condo prices aren't set yet.
"It will make a positive impact in that area," the physician said. He said his office will have about 15 employees.