Paul K. Brock Jr., who has led the nonprofit downtown Chattanooga redevelopment group RiverCity Co. since 2004, will step down this winter, officials said Tuesday.
RiverCity Board Chairman Charlie Arant said a panel will be formed to hire a new president. Mr. Brock has agreed to stay in his post through February to help the transition.
Mr. Arant said officials would like to find someone local and knowledgeable about the city, but RiverCity will broaden its search if unable to tap the right candidate.
Mr. Arant lauded Mr. Brock's contributions.
"From the residential activity along the river to the dramatic redevelopment of the Main Street area, he was extremely effective in maintaining our momentum," said Mr. Arant.
Mr. Brock said it has been a privilege to serve the organization.
"For the past 22 years, RiverCity has made a significant contribution to the growth and vitality of our downtown, and it has been extremely gratifying to be part of that effort," he said.
Chattanooga Mayor Ron Littlefield, who is on the RiverCity board, said Mr. Brock will be missed. "Paul brought a great combination of talents to the job," Mr. Littlefield said.
During Mr. Brock's tenure, RiverCity was catalyst for a number of projects. These include the recently announced new downtown theater, SimCenter expansion, master planning for the US Pipe and Wheland foundry sites, a central business district economic plan and a retail recruitment effort.
But a plan to redevelop the 700 block of Market Street hasn't come to pass and landed in court when RiverCity sued to regain ownership of the property.