Reclaiming the riverfront

Apartments, townhouses, commercial projects up and envisioned

Thomas Brothers Construction, Inc. employee's Cecil Sanders, left, Daniel Smith and Jay Garner work to add mulch along the newest section of the Tennessee Riverwalk, just south of Siskin Steel.
Thomas Brothers Construction, Inc. employee's Cecil Sanders, left, Daniel Smith and Jay Garner work to add mulch along the newest section of the Tennessee Riverwalk, just south of Siskin Steel.
photo Cameron Harbor

RIVERWALK EXTENSION

The first segment will extend the popular walkway to the south and west, ducking under Interstate 24 and across Chattanooga Creek down to the site of the old U.S. Pipe property a block west of South Broad Street.

Another expansion will extend the Riverwalk all the way to St. Elmo, piggybacking on a public works storm sewer project along St. Elmo Avenue north of South Broad Street.

That will link it up to the Guild Trail, near where Broad Street becomes Cummings Highway, and connect it to some 40 miles of trails that crisscross Lookout Mountain.

Developers say they're listening to what renters and buyers want as they continue to build new housing along Chattanooga's downtown waterfront.

The Cameron Harbor development is sprouting from the former Jones-Blair Paint Co. site off Riverfront Parkway. With plans for about 350 new residential units, it's the biggest riverfront development in the city at least since the 1980s.

Aaron White, of Evergreen Real Estate, said the Nashville company that's already building apartments and cottage homes sees potential for 200 more residences or even offices at the site of the $100 million development.

"So far, demand is very good," said the developer. "Since we've got apartments down there, we're hopeful of adding condos and retail."

Eugene "Buck" Schimpf of Chattanooga continues to develop the most high-end offerings at Cameron Harbor - townhouses selling for about $1.2 million each. Schimpf projects that up to 1,000 people will be living in Cameron Harbor before long.

"I think that what you are seeing is the continuation of the vision of Cameron Harbor," he said.

Meanwhile, a key undeveloped tract across the Tennessee River could be the next sizable parcel to see new waterfront development downtown.

A pair of out-of-town developers are interested in the 6.6 acres of riverfront land belonging to businessman Allen Casey across from Ross's Landing and bordering Manufacturers Road.

Jerrold Farinash, the trustee in Casey's bankruptcy case, said the developers are expected to be interested in a mix of residential and commercial projects on the vacant property where Casey's controversial rundown barge was moored before it was towed away last summer.

Farinash has said he sees the highest future value of the site by combining that land with an adjacent industrial site containing propane storage tanks and a steel processing center. The entire parcel could extend from the One North Shore condominiums to the Olgiati Bridge.

In addition, a new strand of the Riverwalk is planned from Cameron Harbor to St. Elmo and is seen as helping to spur new development.

Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.

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