River City Co., a nonprofit that leads development efforts in downtown Chattanooga, has entered a three-year contract with a national consultant it says will help recruit major retailers to the heart of the city.
The nonprofit will work with Birmingham-based Retail Strategies to identify which stores and restaurants would fit well in spaces sitting idle downtown. The vacancy rate for downtown retail and commercial space was 2.7% last year, according to a study River City Co. released in August.
That number has increased since Taco Mac and Sticky Fingers closed their doors, said Sarah Mattson, senior director of economic development at River City Co. The two restaurants had operated downtown since the 1990s.
(READ MORE: How is downtown Chattanooga? Leaders see parking market at work)
