The Ross Hotel, the former site of Yesterday’s, has been purchased for rehabilitation and reuse as residential space in City Center. This piece of Chattanooga history at the corner of Georgia Avenue and Patten Parkway will be turned into workforce housing with first floor animation through retail and/or commercial activity.
Acquired by River City Company with the support of the Benwood Foundation as a strategic site for more rental housing in the core of our city, this acquisition was driven from two studies: the recent Downtown Chattanooga Study focused on housing, retail and office market opportunities and the City Center Plan.
The Downtown Chattanooga Study found there is a pent-up demand for housing downtown which could fill almost 900 units of varying types annually. The City Center Plan, which was unveiled in early 2014 and developed by a team of local and regional planners with input from over 600 Chattanoogans, spotlighted 23 current buildings and potential infill sites within City Center that could potentially accommodate over 1,260 housing units – the Ross Hotel being one of those.
Although the redevelopment of this building will provide much needed rental housing in the district, this project also aims to assist in sparking excitement and interest in other potential projects on Patten Parkway and M.L. King from both the private and public sectors for continued redevelopment of this area.
Not only are Patten Parkway and M.L. King prime areas with significant development potential both commercially and residentially but also can act as a thoroughfare from UTC to channel students into downtown.
“The City Center Plan highlighted the amazing opportunity we have to take underutilized buildings and turn them into much needed workforce housing. We’re excited to lead the charge, as we have for a variety of downtown development over the years,” said Kim White, president and CEO of River City Company. “The Ross Hotel is just one of the many buildings in City Center that can be sites for desired housing. We hope other building owners see the demand and follow suit.”
A request for proposals (RFP) will be sent to qualified developers for the project, and plans for the site will be announced when available.