A Chattanooga developer, leveraging other construction going up or planned in the South Broad area, sees an opportunity for a new mixed-use project.
"It has a ton of visibility," said Kevin Boehm, who is eyeing a nearly 4-acre, mostly vacant tract that borders Broad Street across from the Southern Saddlery Building. "Easy access to the interstate."
The parcel at 3008 Broad St. is currently owned by Marvin and Ronnie Berke, the father and uncle of Mayor Andy Berke. Boehm is seeking a sewer easement abandonment from the Chattanooga- Hamilton County Regional Planning Commission in January.
If approved by the city, Boehm wants to buy the land and put up some sort of a mixed-use project including retail to service the new residences either underway or on the drawing board in South Broad, he said.
The site is near another, much larger housing and commercial project on property that once housed the Lookout Mountain Suites and stretches down 33rd Street near Chattanooga Christian School.
Boehm said he's a partner in that project that includes apartments, townhouses and commercial space in a potential $75 million development.
Joe Fielden of Neyland Apartment Associates in Knoxville, another partner, said South Broad has not seen a lot of development over the last 30 years, but that's changing.
"It may be the biggest project ever in that neck of the woods," he said about his development.
In addition, Boehm cited other projects on which he's not involved, such as the Publix supermarket planned nearby and others.
He termed South Broad "a changing part of town" that is close both to downtown and the Riverwalk, which now ends in South Broad and is slated to go to nearby St. Elmo.
Also, Boehm said, the property he's eying sits in the city's Opportunity Zone. That tax provision adopted by Congress in late 2017 is aimed at helping funnel significant amounts of money for developments and businesses into some distressed areas of town for investors.
"There's lots of opportunity," Boehm said.
Earlier this month, another developer revealed plans for a four-story building holding potential housing, office or retail space - or even a hotel - on Broad and 26th streets near the former U.S. Pipe foundry property.
That multimillion- dollar structure is the first of an array of new development planned in the Southside Gardens neighborhood where Chattanooga developer Hiren Desai and business associate Jimmy White own 49 parcels.
The South Broad District Plan unveiled in 2017 suggested a multi-use sports and entertainment facility for the U.S. Pipe/Wheland Foundry parcel. The report foresees an array of new housing along with commercial and retail space, upgraded parks, streets, sidewalks and other infrastructure, including a new minor league ballpark and entertainment facility potentially housing the Chattanooga Lookouts to serve as a catalyst for development.
Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318 or follow him on Twitter @MikePareTFP.