A series of ambitious private developments billed at $100 million or more each have yet to begin construction in the South Broad district of Chattanooga, though developers still say they plan to build the mixed-use projects.
Meanwhile, a set of smaller residential projects have already broken ground or will break ground soon in the Southside Gardens neighborhood across Broad Street from the new Chattanooga Lookouts stadium under construction.
New property tax revenue on the developments will help pay down public debt on the ballpark, known as Erlanger Park, which is scheduled to open April 14 on the former U.S. Pipe/Wheland Foundry industrial site between South Broad Street and Interstate 24.
(READ MORE: Early revenue for Lookouts stadium comes from projects that predate its construction)
The city and county reserved more than $500,000 in property taxes last year from projects in a 470-acre zone around the stadium to help pay down debt. Many properties that contributed so far were completed between the time officials unveiled plans for the minor league baseball stadium and began constructing it.