A planned new multimillion-dollar condominium project, slated to go atop a 40-foot knoll on Chattanooga's North Shore, won a variance from a city panel on Thursday.
The Fairpoint, featuring three levels holding 26 condos ranging from the high $200,000s to mid-$400,000s each, would go up at 411 Fairpoint St., said Wes Mohney, project manager for the Fletcher Bright Co.
He estimated the condo project, which would hold one- and two-bedroom units, at more than $7 million.
"The view is going to be a major selling point," said Mohney about the site located off Cherokee Boulevard.
The Chattanooga Form-Based Code Committee granted a variance for the project Thursday after the proposal went before the North Shore Neighborhood Association earlier in the week and won its endorsement.
"The association approved what they're going to do," Panel Chairman Jason Havron said. "The neighborhood association thought the ideas were good."
Eric Emery of NE Group said plans call for three stories of condos above a parking level. He said the site will hold about 53 parking spaces.
Mohney said work is expected to start this fall on the complex that's situated above the former Pruett's grocery store on Cherokee Boulevard.
"It's high-end condominiums on the North Shore," he said.
The Chattanooga developer sought variances to permit 13 continuous parking spaces between two interior islands. Also, the company wanted an increase in the driveway width from 20 feet maximum to 26 feet. It said the city Fire Marshall had requested an extra wide curb cut due to the dead-end street.
The North Shore continues to see a flurry of new housing.
Opening earlier this month was the biggest new apartment building to go up yet in that area. The 190-unit complex, called 5 Points Northshore, opened at Cherokee Boulevard and Manning Street in a $37 million project.
Under construction are six high-end town homes on Woodland Avenue near Frazier Avenue on part of a site that formerly held the Town & Country Restaurant.
Chattanooga developer John Wise is building another apartment project off Cherokee Boulevard and a five-story, 84-unit apartment building at Cherokee and Manufacturers Road by Vision Hospitality Group opened last year.
Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318. Follow him on Twitter @MikePareTFP.