The developer of one of Chattanooga's biggest planned waterfront housing and commercial projects says it could hold more than 900 units and continue a trend of riverfront living in or near downtown.
"It will capitalize on what Chattanooga is known for -- outdoor recreation," said Scott Williamson, a vice president for Fletcher Bright Co. "It will feel like a magnet to the river."
River's Edge at South Chick, which he pegged at a $400 million development, is to go on a 70-acre former industrial tract at Amnicola Highway and Judd Road. It's the latest proposed mixed-use project by developers that would reuse what historically were manufacturing sites on the Tennessee River in or near the central city.
Williamson cited the development's proximity to downtown and its amenities, adding that the parcel is 4 miles from the city's core. Also, the Tennessee Riverwalk is accessible from the former Central Soya feed mill site, he said in an interview.
In addition, the property has about a half-mile of frontage both on the Tennessee and where South Chickamauga Creek empties into the river, Williamson said.
Jones Graham of Chattanooga-based Fletcher Bright Co. and the River's Edge project manager, said riverfront living is a big driver for people.
He said in an interview that the development will hold green space on the sprawling site with a path leading to the waterfront.
Williamson said he's working with state and federal officials to obtain approval for about 100 boat slips.
The developer said plans call for about 330 single-family homes or townhouses on the site. Also, he said he foresees about 590 multifamily units, including apartments and condominiums.
"It's large enough to get different products," Williamson said about the property, adding it could offer units for sale and for rent. "We'll try to offer different price points."
He said it's too early to provide a range of the costs of the new housing. With the old feed mill silos and other buildings down and rezoning of the land complete, the project is readying to move into prepping the property and putting in infrastructure to hold residences and commercial space.
Williamson predicted he's likely still 18 months away from raising the first residences.
He said River's Edge may hold about 70,000 square feet of commercial space, likely service oriented and including one or more restaurants.
Most of the commercial locations will be at the entrance of the development, though an eatery could go along the river, Williamson said. Live/work space also could be offered, he said.
Staff photo by Mike Pare / Scott Williamson, left, vice president for Fletcher Bright Co., looks over the site plan for River's Edge at South Chick on Friday. At right is Jones Graham, the project manager for the proposed residential and commercial development at Amnicola Highway and Judd Road.Central Soya built the feed mill and soy crushing facility in the mid-1950s. It was acquired by ADM in 1991. In 2001, that company announced it planned to close the vegetable oil refinery and hydrogenation facility.
"It's been just about derelict for 17 years," Williamson said about the site that's near the Centre South Riverport.
According to the state, investigation of the property identified the presence of foundry sand, asbestos-containing material, lead-based paint and petroleum-related and/or hazardous substances.
Williamson said most of the environmental work is done, but it will continue to work with the state.
At $400 million to $450 million when built out, the project would exceed one planned by Chattanooga developer John "Thunder" Thornton not far away. The Riverton residential complex off Lupton Drive, just upriver and on the west side of the river from the old Central Soya site, is estimated at about $300 million.
Meanwhile, Chattanooga developers Jimmy White and Hiren Desai are remaking the 121-acre former Alstom property downtown into an industrial-commercial-residential complex. White has said the proposed redevelopment called The Bend could bring $2 billion to $3 billion in investments.
In addition, Manufacturers Road is attracting added interest from developers. Most recently, a Nashville developer is eyeing the site of a fuel farm on Chattanooga's North Shore as the location for more than 700 new riverfront residential units.
Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318. Follow him on Twitter @MikePareTFP.