The East Main Street corridor between Central and Dodds avenues has more than 200 new apartments, townhomes, or lofts planned by developers.
A new $4 million townhome and condominium project set for Chattanooga's East Main Street corridor will offer 11 units as the near downtown area continues to see a surge of housing activity.
Prices for the 10 townhomes will range from $345,000 to $375,000 each, while a penthouse condominium will go for about $1 million at the development planned for East Main and Fagan streets, said Chris Henegar of Henegar Homes.
Work at the site, a half-acre vacant lot about a block west of Central Avenue, is expected to start near the end of this month with construction to take about a year, said Henegar.
Susan Gilmore, listing agent with Real Estate Partners Chattanooga LLC, said the project is called Westridge on the Southside and the new townhomes are among the first such units planned for the area.
"We're excited to be a part of this development pushing beyond the Southside to [Missionary] ridge," she said.
The townhomes will be about 2,100 square feet in size, and the penthouse is slated at 3,500 square feet.
Pricing for the units will depend on placement within the development, said Gilmore, who's listing the units with Melissa Hennessy.
"Some capture stronger views of Lookout Mountain," she said.
Henegar said the townhomes will be three-level units with attached two-car garages. Each will have four bedrooms and three and a half baths, he said.
The bottom levels are live-work space with a separate entrance, Henegar said. He said one unit has been pre-sold.
Also, commercial space on the ground floor of the project already is leased by an accounting firm, the Chattanooga developer said.
The condo will hold a rooftop swimming pool and terrace.
Henegar termed the project "a nice addition," and he has plans for a second phase at the site that will create another 10 to 12 townhomes.
Additionally, he said, he has a couple of other developments in the works in the same area.
"The most important thing is that there's a lot of empty space," he said about the East Main corridor.
The area between Central and Dodds Avenue is seeing a flurry of new residential and commercial projects as developers cite the area's proximity to downtown.
"The heart of Chattanooga has become such a vibrant and wonderful place to be," Gilmore said.
Earlier this month, a Nashville developer unveiled plans for $40 million in new residential and retail space in one of the largest new projects to date in the area. Also, up to 90 new apartments are planned as a Chattanooga developer eyes revamping a vacant 1920s textile factory off East Main Street in a $17 million project.
Both of those projects were approved last week by the Chattanooga/Hamilton County Regional Planning Commission and will be considered next month by the Chattanooga City Council.
In addition, a mixed-use development with 20 to 40 townhomes is planned for the 12,000-square-foot Raines Brothers construction company building at 1038 E. Main St.
Contact Mike Pare at email@example.com or 423-757-6318. Follow him on Twitter @MikePareTFP.