Tim Downey Now Developing Huge Aetna Mountain Tract

Tuesday, March 25, 2014

A local developer is now in charge of a planned $70 million residential and commercial on Aetna Mountain in Lookout Valley.

Tim Downey is in charge of the project that was formerly overseen by Brant Enderle, who had been involved in a number of projects around the country.

Mr. Downey founded the Southern Land Company in 1986.

The Black Creek Mountain group received approval in 2012 for a Tax Increment Financing (TIF) District to pay for a $9 million road up Aetna Mountain to the development.

Doug Stein, one of the developers on the project, earlier said the site "may be the most important piece of land in our community remaining to be developed."

He said the property is as high as Lookout Mountain, flatter and has more acreage than the town of Lookout Mountain, Tn. He noted that it is now all within the city of Chattanooga with recent annexation.

He stated, "This is really developing another small town."

Mr. Stein said there is room for 1,400 to 1,500 residential units on top of the mountain based on a low density. He said the group plans at least 200,000 square feet of commercial space that includes public recreation facilities, assisted living, resort and lodge facilities and a corporate retreat center. The houses are to be in different price ranges, starting at $185,000. 

He said the group has set aside corporate office space, land for the public school system, a town center, an office park and space for restaurants.


 


Home Sales Increase In April In Chattanooga

Home sales increased in April in Chattanooga, according to a report from the Greater Chattanooga Association of Realtors.   The report said, "As we turn the page to the second quarter of 2015, a proliferation of new  listings is expected in most markets across the U.S. Spring is traditionally the  commonplace time of the year that we see some of the most desirable ... (click for more)

Georgia Real Estate Investor Pleads Guilty To Bid Rigging And Fraud Conspiracies At Public Foreclosure Auctions

A Georgia real estate investor pleaded guilty on Tuesday for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia, the Department of Justice announced. Felony charges against Eric Hulsman were filed on March 27, in the U.S. District Court of the Northern District of Georgia in Atlanta. According to court documents, from ... (click for more)

City Seeking Grant To Improve Signals At 32 Intersections

The city is seeking a $2 million federal grant to go along with $500,000 in city funds for a project to improve signals at 32 intersections. There would also be bike and pedestrian improvements. The routes include Brainerd Road, Lee Highway, Shallowford Road, Gunbarrel Road and Hamilton Place Boulevard. The application is for a Congestion Mitigation and Air Quality Grant. (click for more)

Olympian Kristin Armstrong Sets Course Record; Talansky Is Men's Winner

Two-time Olympic goal medal winner Kristin Armstrong won the USA Cycling Professional Time Trial Championship in a record time at the Volkswagen course on Saturday morning. She finished the 19.2-mile course in 42 minutes, 8 seconds. The time trial victory assures the 41-year-old Armstrong of a spot as one of three American women to compete in the world championship time trial ... (click for more)

Shame On The Housing Authority - And Response

With Chattanooga and other cities around the nation struggling to find solutions to chronic homelessness it's cruel to evict families likely with children over a fight.   When you evict the adults you're also evicting any and all children in the household.  Intelligence would dictate looking for a root cause. Compassion would dictate looking for alternatives. Both ... (click for more)

Roy Exum: Buy Ping Golf Clubs

As we set the charcoal, ice the drinks and prepare for Memorial Day, the first thing on my mind is to ask any golfers within my reach to consider buying and playing with Ping-brand golf clubs. Pings are made in America but there is a little something else you need to know, as told in an email I received earlier this week. I regret I do not know the author: * * * “On Monday, ... (click for more)