Skip PondThere are now two residential projects in the works at the intersection of McCallie and Central avenues after planning commissioners recommended approval Monday for eight to 10 new townhomes in the southwest corner of the intersection.
Last month, the Chattanooga City Council approved a 114-unit apartment complex in the northeast corner of the same intersection. The planning commission endorsed that proposal in January.
Skip Pond, an independent Chattanooga developer, said Monday that his townhome project in the southwest corner represents a roughly $1 million investment and is aimed at young professionals who want to live downtown. He originally looked at doing apartments, but in the wake of a glut of new downtown apartment starts, changed the plan.
Pond owns Pond Holdings LLC and RLP Construction LLC.
Pond’s project will include seven two-bedroom townhomes and two one-bedroom townhomes. The two-bedroom units will be between 1,000 and 1,100 square feet and rent for about $1,200 a month, he said.