As the economy rebounds from the COVID-19 shutdowns three years ago, the era of remote and hybrid work ushered in by the pandemic continues to limit the number of people going to downtown offices, restaurants and shops every day in many major cities.
But developer Jimmy White thinks downtown Chattanooga is different with its distinctive riverfront, highway and broadband access in a lower cost, more attractive environment.
As businesses and workers rethink their worksites coming out of the pandemic, White sees an opportunity to redevelop one of Chattanooga’s former riverfront industrial sites into a magnet for new offices, stores, apartments, entertainment and even a downtown marina to draw workers, residents and visitors to the city’s Westside.
Aided by new tax incentives endorsed last week by the Chattanooga City Council and Hamilton County Commission, White’s Urban Story Ventures is preparing to begin site work as soon as next month on the first phase of what developers hope will eventually spur more than $2 billion of new development.
Billed as The Bend for its setting on the Tennessee River, the 120-acre site that once housed thousands of Combustion Engineering and Alstom Power employees is now targeted for Chattanooga’s biggest new office tower built in decades along with a new retail, commercial and housing district built around a canal and riverfront park and walkway lined with up to 1,800 new trees.