Market Street to see development

A decrepit block of bedraggled buildings across from the Chattanooga Choo Choo will soon see the first new tenant in more than 30 years.

The Hot Chocolatier will move into a new storefront at 1437 Market St. - what was once the J.M. Sanders Pawn Shop, the "diamond king of the South" - in late April from its current location in the Craftworks building.

"We wanted to stay on the Southside, and we're hoping we can spur the two empty buildings that are adjacent to us into developing those and getting more activity in that area," said Chocolatier co-owner Brandon Buckner. "Being across from the Choo Choo doesn't hurt either."

The future Chocolatier will occupy one of three buildings, which also contain the long-shuttered Ellis Restaurant and St. George's Hotel. Those owners said they are also moving forward and assembling cash to pay for plans to breathe new life into the Southside.

"You just can't replace these old buildings," said architect Thomas Johnson, who expects to spend $500,000 of his own money and hundreds of hours to buy and renovate the future home of the chocolate entrepreneurs.

Marta Alder, who bought the St. George for $245,000 last year, was set to meet with architects to go over plans for a multi-story condo development and parking garage that would use the existing facade for historic purposes, she said. In 2012, a wrecking crew demolished two-thirds of the St. George building for safety reasons.

"We've had to really go through the engineering very carefully as to what can be done, what's up to code and how we can save the building," she said.

She said she's still working to assemble financing for the project, but with the engineering studies in hand she expects movement within months.

"I think the three of us [property owners] together can all make that block look really good," Alder said. "I moved up from Miami a couple years ago, and when I saw it I couldn't believe it had been sitting across from the Choo Choo vacant for 30 years. Better late than never."

Scott Coffey, owner of the Ellis Restaurant - sandwiched between the former pawn shop and the St. George - hopes to refurbish his space from the outside in. He and local preservation group Cornerstones Inc. together have applied for a grant to restore the restaurant's sign to its former glory, which could draw immediate interest to the block and represent the first step in restoring the restaurant itself, Coffey said.

He and Johnson are also working to solicit support from the city, which originally removed street parking in the 1980s to help smooth the flow of traffic down Market Street from I-24 to TVA. Any potential restaurant or retailer will need those 10 spaces restored, they say. In the meantime, patrons can park across the street, a common occurrence in any urban setting, said Coffey.

"I think the combination of the location and draw of the sign, it's a no-brainer," he said. "If you can't make it in a restaurant there, you can't make it in a restaurant anywhere. I can assure you it will be a memorable experience."

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