Chattanooga’s land bank is trying again to get developers interested in six free pieces of land where they could build affordable homes.
The city is also trying to sweeten the deal for developers with some extra money and looser affordability requirements, in an effort to make these projects financially doable.
When the city’s land bank authority sought proposals last year for seven parcels concentrated in Alton Park and East Chattanooga, just one received a bid.
A home at that property, on Oakland Avenue in Alton Park, is expected to be complete by March, said land bank director Megan Miles. Wind River Homes, a modular home builder based in Cleveland, Tennessee, received the donated parcel and agreed to sell its product for under $200,000 to a first-time homebuyer, meeting the original price target for the land bank program.