A mixed-use development that will be one of the biggest-ever new housing and commercial complexes in Chattanooga's downtown riverfront area will be called River Rock.
"River Rock will deliver high-quality, live-work-play options for Chattanooga's growing population of residents looking to live in this dynamic and energetic part of the city," said Alan McMahon, development manager at the South Carolina-based The Beach Company, in a statement.
The company has closed on its previously announced acquisition of 2.79 acres of land, which had served as two Unum Group parking lots off Cherry and Fourth streets.
River Rock will offer 16,000 square feet of commercial space in addition to 163 apartment units consisting of studio-, one-, two- and three-bedroom floor plans as well as townhomes with attached garages.
A 300-space parking garage will be constructed in the center of one of the lots for the new development, which will have three-, four- and five-story buildings, officials said.
"River Rock will help transform the Fourth Street corridor into a walkable and vibrant gateway into the city," said Kim White, CEO of River City Company, Chattanooga's downtown nonprofit redevelopment group. "We are confident in The Beach Company's ability to deliver a high-quality project that further enhances one of the area's most beautiful neighborhoods."
Construction on River Rock is expected to begin in September.