If Chattanooga Red Wolves owner Bob Martino wants to put Grandma on the street, it’s perfectly within his right to do so.
He owns East Ridge Residence, an independent living facility for older adults next to his burgeoning $200 million development around the soccer team’s stadium. The announcement that all remaining residents must vacate the property by Oct. 15 is just a business decision for him.
Martino’s statement says the building is in poor condition and getting worse and that operating costs are rising. Although the 56-year-old property was renovated in 2017, we don’t doubt his claims. It’s not easy to operate such a facility, it’s difficult to maintain any 137,663-square-foot building and we doubt he ever figured he would do so.
But since the facility was adjacent to his development, it made business sense for him to purchase it in 2021. And although he said in 2022 that “no one will be moved out,” he did seek rezoning of the property that same year for more development.
Management of the property said it is committed to assisting the elderly residents in finding “relocation resources” and that social service agencies will be contacted to help. The letter sent to residents also said they had the option of having their prorated rent refunded.