Closing is set for July 19 on a long-delayed downtown apartment complex, members of the Chattanooga Downtown Redevelopment Corporation were told Wednesday.
Developer John Clark said since the $10 million project is being funded by HUD, the closing is set for Knoxville for the project that also includes a new edition of the Little Miss Mag child center.
Walnut Commons at Riverfront Parkway and Walnut will include 100 apartments built over 19,000 square feet of space for Little Miss Mag, which has long been located nearby on Walnut.
There will also be some commercial space.
Mr. Clark said the building will be four-story and include a rooftop deck.
He said rents will be market rate and should appeal to workers at the Aquarium, Unum and downtown restaurants.
It is not subsidized housing, though the loan is from HUD, he said.
Mr. Clark said ground will be broken within a week of the closing.
Work on the project began six years ago and there were delays due to HUD requirements and to clear up a title issue involving the state.
Other developers are Bob McKenzie and David Hudson.