“We’re trying to get a mix of affordable for-sale units in this part of town.”
A Chattanooga developer plans to build a new townhome complex on downtown's Southside, saying there's a need for more "for-sale, lower-priced product" in that area's housing market.
Gabe Thomas of RP Homes, who on Thursday won a variance for the tract at 1514 Cowart Street from a city panel, said the plans call for a three-story structure with 12 units.
The townhomes will be about 1,000 square feet in size and sell for under $300,000 each, he said.
"We're trying to get a mix of affordable for-sale units in this part of town," said Thomas.
The complex will be called The Davis on Cowart after the family that owns the site, which for many years held an automotive business, he said.
Work on the project is slated to start in May with completion late this year, the developer said.
"We'll start pre-selling in April," he said.
Thomas told the Chattanooga Form-Based Code Committee that the neighborhood believes there's a need for the product he wants to put up.
The site, about a block off West Main Street, is a small one, he said. But the builder plans to place the new townhomes on the parcel to create "a walkable feel."
The Southside is seeing an array of new housing with more than 1,000 apartment units under construction or recently opened.
New townhouse or condominium construction is underway or planned, though on a smaller scale.
The Fletcher Bright Co. plans to put up a three-story, 17-unit condominium complex on a vacant lot at Long and West 16th streets, behind the former Grocery Bar building. Price points are expected to range from $225,000 to $250,000 each.
Developer Mike Long, who owns Proficiency Property Management & Construction LLC, is raising a 10-unit condo project at Main and Jefferson streets. The units are initially priced at around $440,000 to $479,000 apiece.
Ethan Collier, another Chattanooga developer, is building higher-end townhomes at 1400 Williams St. Those five townhomes are to have a starting price of about $850,000 each, he said earlier.
Collier also has plans for 20 townhomes near the East Main and Central Avenue intersection.
Thomas said there's a lot for people to do in the Southside, which also is seeing a variety of new eateries and other businesses.
"There's a lot of stuff going on," he said.
Contact Mike Pare at email@example.com or 423-757-6318. Follow him on Twitter @MikePareTFP.