Tennessee Baptist Children’s Homes sold more than half of its Chattanooga campus to help fund new homes for kids in crisis, opening up a parcel on a busy stretch of Lee Highway for development.
The Brentwood-based nonprofit sold land near the intersection with Highway 153 for $8.035 million to a limited liability company called Art Holdings Tn, according to Hamilton County records. The sale of 43.8 acres closed June 16, said Greg McCoy, the nonprofit’s president.
Tennessee Baptist Children’s Homes sold a 6.5-acre wooded parcel to Food City last year for around $2.5 million, McCoy said. Food City opened its Lee Highway store in May.
The Christian nonprofit will use more than $10 million raised from both sales to begin building new homes for children that will provide them their own bedrooms and bathrooms.
Though it dates back to 1891, the nonprofit established its Chattanooga campus in 1954 with around 70 acres.