300 new apartments planned on Tennessee River near downtown Chattanooga

Staff File Photo / Builders work on construction of a new apartment building on Cherokee Boulevard in this file photo. More apartments are planned nearby on Manufacturers Road.

An Atlanta group is proposing a new 300-unit apartment complex on a vacant waterfront tract off Manufacturers Road and adjacent to downtown Chattanooga's burgeoning North Shore.

The 7.2-acre parcel sits just west of the Olgiati Bridge in an area that's mostly manufacturing but within walking distance to the popular 2 North Shore and Knitting Mill shopping and office centers.

The close proximity to the North Shore is something the development group likes, said Peter Trelenberg of the Novare Group, which is putting the project at between $30 million and $40 million.

"The area, although industrial right now, we believe that it will turn into a more mixed-use area depending on how the city wants to push that," said Trelenberg.

The group is seeking a zoning change for the 702 Manufacturers Road parcel from manufacturing to Urban General Commercial on Monday from the Chattanooga-Hamilton County Regional Planning Commission.