The RiverCity Company has played a leading role in a dramatic transformation of downtown Chattanooga, RiverCity Company President Paul Brock told the Market Center Council of the Chamber of Commerce on Thursday morning.

Mr. Brock also told the group at the breakfast at the Sheraton Read House, "Let me assure you, we conduct our business in a very open, ethical and honest fashion."

He said of the changes downtown and along the riverfront, "This is unbelievable stuff. We should all take our hats off. The catalytic effects from all this new development is really going to be phenomenal."

Mr. Brock, who succeeded Ken Hays at RiverCity, said RiverCity Company grew out of the 1982 Moccasin Bend Task Force, which issued a report in 1985. He said it is a public/private partnership that includes the mayor and county mayor and the City Council and County Commission chairmen on its board, along with prominent business and foundation leaders.

He said local foundations and business leaders provided $12 million for the start of the RiverCity Company.

Mr. Brock said it acquired 26 acres downtown, including the 16-acre Kirkman Technical School property, and began seeking to develop it to its highest use.

He said RiverCity helped develop the first downtown housing since the mid-1970s - the Riverset Apartments, and was also active in getting two downtown schools and in overseeing the 21st Century Waterfront Project.

He praised urban designer Stroud Watson, saying he has been called "the conscience of the community." He said Mr. Watson has helped ensure that new developments are top quality and that they fit into the overall plan.

He said RiverCity is also involved with the Downtown Partnership, which had programming for 149 events downtown last year and is coordinating the celebration for the completion of the waterfront at the end of April.

Mr. Brock said RiverCity still has the challenge of developing the 700 block of Market Street. He said, "It has sat idle long enough. We're going to make something happen there." But he said it is a difficult project with little prospect for a substantial development profit.

Mr. Brock, who formerly headed the Creative Discovery Museum and is from the Brock Candy Company family, said he "jumped at the chance to join the RiverCity Company."

He said, "I am a native of Chattanooga. I love Chattanooga. I have a passion for making it better."