Construction continues on Walnut Commons, a new housing complex being built at the intersection of Walnut Street and Aquarium Way in downtown Chattanooga.VIDEO
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COMING SOON?A new apartment development at the corner of Market and Main streets soon may be announced. Jim Williamson of River City Co., the nonprofit redevelopment group that owns what’s known as the Union Gospel Mission property, said it is working with a developer on a potential project for 50 apartments with commercial space on the ground floor.
James Jabaley lived at his one-room downtown Chattanooga efficiency for about a decade – until his rent suddenly spiked 23 percent to around $500 a month.
“He didn’t care how long I lived there,” Jabaley said last week about the apartment building’s manager. “I felt abandoned.”
Jabaley, who has since moved to the North Shore, is among downtown apartment dwellers seeing rents jump amid surging demand.