Saluting Chattanooga's MVPs
Chattanooga's downtown skyline took on a new look in 2017 with the tallest new building erected in decades added in the central city and several signature structures taking on new owners and uses.But far more than just the built environment was altered during the past year as a growing and shifting economy and workforce continued to change the way business is done in Chattanooga.The individuals who helped lead such changes and did the most to reshape the regional economy are our Most Valuable Players in business in 2017. The top 10 list includes those leading everything from volunteer programs to Chattanooga's biggest business and reflects the diversity of our changing economy.
Jimmy White says he was taking a long-term view when he and business partners decided to make a big bet on Chattanooga.
White, a former University of Tennessee and professional golfer, says their real estate investment business has assembled 1.5 million square feet of commercial office space in Chattanooga in a relatively short period.
"Chattanooga has situated itself in a great spot for the next 10 to 20 years," he says, citing job growth and expansion of companies such as Volkswagen and Amazon. "We're starting to see the ripple affects."
White along with partners such as Chattanooga hotel developer Hiren Desai has bought up real estate properties including the iconic James Building on Broad Street and the former Osborne Office Park in Brainerd, which they've renamed Midtown Office Park.
His group, which markets itself under the name of Urban Story Ventures, also purchased the Edney Building at Market and 11th streets, which is ground zero for many small business startups and the city's Innovation District.
"We had a unique opportunity to buy nice quality assets," White says.
But the investors also have purchased sites such as the former Aerisyn industrial facility at Riverfront Parkway and Main Street.
"We started with the premise that we're value-add guys buying the bad, the ugly and the worst," the businessman says.
White, 39, says he was born and raised in Ooltewah. He attended UT, majored in business, played golf there and then turned professional, living in South Florida for a period.
He later got into real estate, finding distressed commercial properties mainly in the Southeast. He returned to Chattanooga in 2006.
"My family is here," he says. "I could do what I do from anywhere."
In about 2012, he reconnected with Desai and they started the real estate development and investment company, White says.