Plan proposed for Parkway Towers but owner says Chattanooga site no longer on market

Plan proposed for Parkway Towers but owner says Chattanooga site no longer on market

April 3rd, 2014 by Alex Green in Local - Breaking News

Parkway Towers across from Finley Stadium is seen in Chattanooga.

Photo by Connor Choate/Times Free Press.

A local entrepreneur is proposing to renovate the Parkway Towers building near Finley Stadium if he can entice investors to buy the property and help finance the $3 million needed to make it a reality.

Corey Ballew, a co-founder Green Arc Labs, speaks in a short video on his personal blog, www.coreyballew.com, about an idea to transform Parkway Towers from an old, abandoned building to a state-of-the-art, mixed-use building with some indoor farming, brewing and some living areas.

But while the proposal sparked renewed interested in the highly-visible four-story building on Thursday, its current owner, Maurice Kadosh, says he hasn't been contacted by anybody about this new proposal.

"Nobody has contacted me for anything regarding this building," he said Thursday.

Kadosh bought Parkway Towers in 2008 for $418,500, in the name of Parkway Towers Development Inc. He also said that "this is not the first time a rumor [has surfaced] about this property."

Parkway Towers is currently no longer on the market.

Kadosh said he currently has no plans for the site.

Ballew was not available for comment on Thursday.