A tract that has long held an auto dealership could be a site for an in-fill redevelopment opportunity.
A three-acre parcel at Riverfront Parkway and M.L. King Boulevard now holds the Crown Subaru dealership. Crown currently has a lease running through the end of 2023, according to commercial real estate broker Wilson McGinness of Rise Partners.
But the property sits near the Tennessee Riverwalk's Blue Goose Hollow trailhead. While the dealership tract is zoned for manufacturing, surrounding zoning is commercial and could hold office, medical, or multifamily uses, according to the broker.
The property is held in a blind trust set up for Chattanooga Mayor Tim Kelly, he says.
Multiple projects are currently underway surrounding the site totaling well over $1 billion in investment.
At The Bend, or the former 120-acre Alstom manufacturing tract on Riverfront Parkway, potential housing, hotels, manufacturing, offices, a canal, a food hall, music venue, child care center and more were included in a lengthy 2019 planning effort.
Crown Subaru is shifting its Chattanooga dealership to a high-profile location on I-75, where it will grow its footprint. The company is investing about $14 million at the planned new store at I-75 and Bonny Oaks Drive.
ABOUT THE SITE
* Location: 900 Riverfront Parkway
* Lot size: 3.02 acres
* Zoning: Manufacturing
* For more information: Wilson McGinness of Rise Partners