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$40 million Hilton planned for Chattanooga Bank Building

Staff photo by Mike Pare / The old Chattanooga Bank Building, center, stands over downtown's central business district at Market and Eighth streets. A new plan to turn the building into a hotel has emerged.
Staff photo by Mike Pare / The old Chattanooga Bank Building, center, stands over downtown's central business district at Market and Eighth streets. A new plan to turn the building into a hotel has emerged. Staff photo by Mike Pare / The old Chattanooga Bank Building, center, stands over downtown's central business district at Market and Eighth streets. A new plan to turn the building into a hotel has emerged.

By Mike Pare 4 min read

An effort to turn the 95-year-old former Chattanooga Bank Building downtown into a hotel is back on after a tough couple of years in the hospitality industry, the owner of the high-rise said.

New plans call for remaking the historic, 10-story tower into a boutique hotel with a Tapestry Collection by Hilton nameplate, said Robert Lubin of R&R Capital Funding of Herndon, Virginia.

A $40 million makeover of the vacant building at Market and Eighth streets could start in August or September, with a projected opening in 2023, he said in a telephone interview.

The hotel would have about 140 rooms and offer a full-service product, Lubin said.

“You can’t have cookie-cutter rooms,” he said about the Tapestry brand. Lubin said his group is working on an application and plan that will satisfy Hilton.