More new apartments may be headed for Chattanooga, with an Alabama developer planning to build a 250-unit complex on Mountain Creek Road.
Watercress Cos. of Huntsville, Ala., is eyeing a 15-acre site across from Red Bank Elementary School on which to put the project, which is estimated to cost up to $28 million, said company principal Bo Bailey.
“We like Chattanooga,” he said. “We’ve been looking for the last couple of years. We saw that property and it was time to pull the trigger.”
Hamilton County is seeing a flurry of new apartment complexes. While much of the activity is downtown – more than 2,000 apartments are planned, underway or recently completed in the central city area – suburban units are going up, too.
Bill Raines of The Raines Group, which listed the Mountain Creek Road site, said the mostly vacant tract is close to downtown and will be convenient for people who work in the central city. The parcel also is near to not just the elementary school but Red Bank Middle and High schools, he said.