Nearly 100 new “starter homes” are planned in Chattanooga near Chickamauga Creek and aimed at helping first-time buyers or empty nesters get into a residence, an investor in the project said.
“That’s what Chattanooga needs right now,” said Ben Phillips, part of a local group proposing the 95 single-family homes on a mostly vacant tract off Faith Road. “That’s our vision.”
The 28.5-acre site, a few minutes drive away from Highway 153 and Highway 58, is central to downtown, Chattanooga Airport and the Hamilton Place area, he said.
Called River Park Farms, Phillips said in a telephone interview that price points are under development amid rising costs for wood and other materials.
But he said the residences, ranging from more than 1,350 square feet to over 2,000 square feet, could start around $300,000 and offer a zero percent down payment.