By the numbers
$30 million – Cost of Market City Center 125 – Number of new apartments $14,000 – Property taxes site was generating a year before the project $300,000 – Anticipated property tax revenue annually from the development Source: The Simpson Organization
The tallest building to go up in the heart of downtown Chattanooga since the 1970s is scheduled to open next week and fill what was a doughnut hole in the city’s core for more than a decade.
The 10-story Market City Center, a $30 million structure that will hold 125 apartments along with retail and office space in the 700 block of Market Street, is seen as helping change that part of downtown.
“We hope it will be a shot in the arm,” said Boyd Simpson, chief executive of Atlanta-based The Simpson Organization, which is the developer of the tower that sits next to the SunTrust Bank Building.
Kim White, who heads the nonprofit downtown redevelopment group River City Co., said Market City Center is the tallest building since what is now Liberty Tower was raised in the Seventies in the central part of downtown.