Project: 1400 Chestnut apartment complex.
Location: 1400 Chestnut St., overlooking Main Terrain Art Park.
What is planned: A five-story apartment building with 200 one- and two-bedroom units, ranging in size from 650 square feet to 1,150 square feet.
Development team: Kore LLC in Birmingham, TDK, American Residential Group, along with Olympus Properties.
Schedule: Construction is underway on the foundation with the hopes of having the first units available in late 2017.
History: The 1.62-acre lot, which has been vacant since the 1980s, was sold earlier in 2016 for $1,375,000. The Chattanooga Health, Education and Housing Facilities Board voted in April to grant property tax breaks valued at $2 million.
Parking and amenities: The property will have a private covered parking garage, a second-level, resort-style swimming pool, an indoor/outdoor club room overlooking the art park and downtown Southside. The apartments feature granite kitchen and bath countertops with 42-inch cabinetry, stainless steel appliances and hardwood-inspired plank flooring in the living and dining areas. The units also will feature built-in bookcases, kitchen islands, energy-efficient LED lighting and oversized walk-in closets.
For more information: See 1400chestnut.com.
- Compiled by Dave Flessner, who can be reached at dflessner@timesfreepress.com or 423-757-6340.