Walnut Hill Townhome Developers Slowly Circling The Block

Saturday, August 16, 2014

Developers of the Walnut Hill Townhomes are slowly circling a downtown block.

Units were first built the length of Cherry Street between Aquarium Way (Second Street) and East Third Street.

The newest units are rising along East Third.

Dale Mabee, who is developing the upscale project along with Don and Mike Moon, said two of the five East Third two-story units have been sold. There were 12 sold along Cherry Street.

Mr. Mabee said as units are sold, the development will continue to the corner of East Third and Walnut, then go back along Walnut toward Aquarium Way.

The group has an option on a current lot owned by the city that has long been used as a parking lot. It is at the corner of Walnut and Aquarium Way. Mr. Mabee said the lot is sparsely occupied except for weekends and special events.

Mr. Mabee, noting that the project was started in 2008 before the real estate market took a nosedive, said, "We feel very fortunate to have done as well as we have in a down market."

He said potential buyers o Walnut Hills Townhomes "like the fact that there is not communal parking or someone over you like in condos." The units come with two-car garages in the rear. There is a "bonus room" above the garage. He said some have used as an extra bedroom and others as offices.

There is an option for an elevator in each of the units - whether two-story or three-story.

A unit that has been furnished as a model on East Third Street is priced at just over $600,000.

 



Cherry Street Center Sold By McGauleys To Hutton

McGauley Holdings has sold a building it has long owned at 730 Cherry St. to Karen F. Hutton. The Cherry Street Center was sold for $1,634,500. Hutton currently has its headquarters at 736 Cherry.  Hutton announced in January that it had closed on the sale of a high-quality, diversified retail single tenant portfolio for $185.8 million. The portfolio consisted ... (click for more)

Tennessee Housing Development Agency Sets New Record For Loan Production In 1st Quarter

The Tennessee Housing Development Agency just wrapped up its best March ever and its best first quarter ever for home loan production.   Tennesseans applied for $46.2 million in Great Choice Home Loans last month, a 27 percent jump over March 2017. The agency's previous record for the month of March was $44 million, set in 2008, just before the Great Recession took hold ... (click for more)

Chattanooga Police Arrest Robbery Suspects Within Hours Of Holdup; Citizen Takes Quick Photo Of Suspect Vehicle

Chattanooga Police officers arrested two suspects involved in an armed robbery within hours of the incident. Officers responded to an armed robbery call at 5966 Brainerd Road  at 1 p.m. on Wednesday. The victim told police she was exiting her vehicle when she was approached by a white male pointing a handgun at her demanding her purse and cell phone. The victim ... (click for more)

WACKER-Charleston Taking Initial Steps To Restart Polysilicon Production After Explosion Shut Facility Last September

WACKER-Charleston announced Thursday it has resumed operations for the production of polysilicon. Using a phase-in approach, WACKER has begun the initial start-up of the site, beginning with distillation. The initial production of polysilicon is targeted to begin in the next few weeks. WACKER anticipates the Charleston site will reach full capacity in the fourth quarter ... (click for more)

Keep The Gifted Program In The Hamilton County Schools - And Response (2)

I currently have a daughter in fourth grade at Lookout Valley Elementary and a daughter in the eighth grade at Lookout Valley Middle High School. Both of my daughters are very good students, as well as being very good people. I am writing today with a concern. I was made aware that the Hamilton County Department of Education is considering cutting the gifted program ... (click for more)

Roy Exum: Remarkable Diane Black

As I was introduced to Tennessee gubernatorial candidate Diane Black on Thursday afternoon, I told her that one of my favorite stories is about her when she was a young, single mother in Baltimore. Her nursing job required her to sign on no later than 6:30 a.m. for work in the emergency room each day but … she had to bathe, dress, and feed her three infants and get each to a different ... (click for more)