Allen Casey's downtown waterfront property listed for $11.2 million

Allen Casey's downtown waterfront property listed for $11.2 million

March 18th, 2014 by Mike Pare in Local - Breaking News

Downtown Chattanooga property owned by Allen Casey

An attorney said today there's already interest from potential buyers in a high-profile tract of downtown waterfront property held by Chattanooga businessman Allen Casey that's on the market for $11.2 million.

David Fulton, an attorney for Casey, said there's not yet an offer on the 6.6-acre parcel located on the Tennessee River across from Ross's Landing, but a real estate broker expects one. The parcel makes up a little more than half of vacant Manufacturers Road site that Casey had hoped to develop.

Another lawyer, Gary Patrick, said at a U.S. Bankruptcy Court hearing for Casey company River City Resort that the right sale price can alleviate a lot of issues in cases related to Casey and his company.

"This is a substantial and valuable piece of property in downtown Chattanooga," said Patrick about the land where a controversial run-down barge is moored.

The bankruptcy court set a later hearing to finalize the real estate broker for the property.

Last month, Casey and his River City Resort company each filed bankruptcy petitions.

On Monday, the U.S. Army Corps of Engineers mandated that the barge at the site be moved away.