This is a rendering of what the Vine Street corridor could look like if future development occurs.VINE STREET CORRIDORPotential uses offered in request for proposals:* Residential - Having a minimum of 200 to 240 units, the upper floors should be multi-family to maximize density. Studio, one- and two-bedroom units should make up the majority of the mix with some three-bedroom units. The market rate housing would target young professionals, university employees and faculty, empty nesters, and graduate students. Purpose built student housing is not desired.* Retail/Commercial/Office - With a 50,000-square-foot minimum, it's desired the buildings have a street-sidewalk presence that can potentially expand one level below or above grade.* Fifth Street - Market rate housing along Fifth should be broken into a smaller scale utilizing multiple buildings, with a character and scale in line with the adjacent historic housing. Alternatively, these parcels may also be developed as single family townhomes.* Parking - Although C-3 zoning does not require on-site parking, it's seen as necessary for this development and its end users. Structured parking, hidden or access off of alleys and side streets are desired. One option may include a multi-level parking structure tucked behind Vine Street buildings and accessed from Lindsey and Houston streets.Source: River City Co.
Chattanooga's largest company is opening the door for more housing and retail downtown in a move that could infuse new life into a three-block corridor and better connect UTC students with the central city.
Unum Group and River City Co. are seeking proposals from developers for the reuse of two of the insurer's downtown parking lots off Vine Street, potentially bolstering efforts to create more residences as well as stores, eateries and offices.
"It could be a vibrant place to be," said Kim White, who heads the downtown nonprofit development group.
In addition to Unum's two sites, two other nearby lots on the same blocks are included as options for similar development under the proposal issued this week.
Additionally, UTC already is moving forward with plans for new $59 million housing and parking complex on a site off Vine near Douglas Street, hoping to bring 600 dorm rooms and a 500-space garage to the campus within three years.
"We hope that will be part of the revitalization of that linkage between the campus and downtown," said Chuck Cantrell, UTC's associate vice chancellor of marketing and communication.
Jim Sabourin, vice president of corporate communications for the nation's largest disability insurer, said Unum shares River City's vision of what downtown can become and that's why it's opening up the two lots which sit between Georgia Avenue and Houston Street and Vine and East Fifth streets.
"Part of this process is waiting to see what interest we have and what developers would plan to do with it," he said about the Unum sites which hold 419 spaces, 165 of which are leased to UTC.
Sabourin said that since the company built a couple of parking garages near its corporate headquarters, it has enough spaces for employees to make the Vine Street lots available for reuse. The company has about 2,900 employees in Chattanooga.
The request for proposals offers two development schemes. The proposal notes that Vine Street is a critical link between the UTC campus and downtown.
One potential plan relies on large projects with parking garages with retail and housing attached.
The other strategy involves building types more easily phased or even built by multiple parties. This plan includes residential over retail, townhouses, and carriage units. This smaller-scaled scheme fits well within the neighborhood context, according to the request, though the trade-off is half the residential density and commercial yield.
Earlier this year, River City and Urban Design Associates crafted a strategic plan for several parcels owned by Unum. The tracts are in close proximity to Unum's corporate headquarters and long recognized as highly desirable locations downtown.
"The Unum properties are key parcels...and have the potential to unlock latent development demand in the downtown and to stitch together currently isolated districts within the city," the proposal said.
Street improvements that calm traffic, provide on-street parking, strengthen pedestrian routes, and provide safe passage for cyclists are also seen as vital.
Proposal submissions are due Jan. 16, 2015, with a final selection March 6.
Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.