DeVaney Says BlueCross Wanted Right Developer For Huge Riverfront Tract

Friday, January 19, 2018
David DeVaney
David DeVaney

The broker who handled the sale of a huge riverfront tract at Lupton City said seller BlueCross BlueShield had been looking for just the right buyer before agreeing to let go of the site once envisioned as company headquarters.

David DeVaney of NAI Charter said, "I believe we did find the right developer for what is one of the most important tracts for Chattanooga's future development."

The purchaser of 216 acres near Dupont Parkway was listed as Riverton LLC, but no details have been given on their identity or specific plans for the site.

Mr. DeVaney said a mixed-use development is planned at the site, which includes the nine-hole Lupton City Golf Course.

He said BlueCross wanted a buyer who would bring the most positive effect for the community.

Mr. DeVaney said the planned development will be "very progressive. It will be exciting to see." He said it will include "lots of green space and pathways for an active community."

He said there are several exits from the property, and he does not believe the development will add significantly to traffic problems. 

The sale price was $8.1 million for the tract that includes 3,300 feet of contiguous Tennessee River frontage.

Mr. DeVaney said he showed the property about 40 times "and every time I noticed something different about it."

He said the higher portions include spectacular 360-degree views of the river, downtown and the surrounding mountains.

"It's a beautiful tract of land," he said.

Mr. DeVaney noted that his firm handled the sale in 2001 when BlueCross acquired it from Dixie Yarns. The old Dixie Yarns mill is nearby.

BlueCross wound up building a headquarters on Cameron Hill.

Ben Pitts of Walldorf Realty represented the buyer.

 


AUDIO: County Commission Meeting 11/20/2019

More New Homes Being Built In Red Bank

Latest Hamilton County Arrest Report


Building and commercial development continues in the city of Red Bank. Tyler Smith came to the commission meeting Tuesday asking for and receiving a zoning change in order to build more housing. ... (click for more)

Here is the latest Hamilton County arrest report: BAILIFF, JESSICA DANIELLE 1211 LAKESIDE DR HIXSON, 37343 Age at Arrest: 31 years old Arresting Agency: Hamilton County VANDALISM/MALICIOUS ... (click for more)


Breaking News

AUDIO: County Commission Meeting 11/20/2019

More New Homes Being Built In Red Bank

Building and commercial development continues in the city of Red Bank. Tyler Smith came to the commission meeting Tuesday asking for and receiving a zoning change in order to build more housing. A public hearing took place before the vote that changed the zoning for property at 201,205, 207, 209, and 224 Hedgewood Dr. and 123 Everly Dr. from R-1 single family residential, to R-T/Z ... (click for more)

Opinion

Have A Longer Fall Break Instead Of Thanksgiving For Schools - And Response

I have four children. I home school one, two are in public school and one is in private school. I believe I have a firm grasp of the fall break versus week long Thanksgiving break argument. My family and I love fall break. We do not want a week off at Thanksgiving. The thought of going from August until Thanksgiving without a real break from the grind is awful. Thanksgiving is ... (click for more)

All Property Owners Deserve The Right To STVR

Changes are coming to Chattanooga’s Short-Term Vacation Rental Ordinance. Chattanooga City Council is working on a draft of changes that would affect every Chattanooga property owner’s right to open their home to paying short term guests. This includes upping the ante on fines for those who are denied an application for permits. This first draft is to be presented to the council ... (click for more)

Sports

Lady Vols Improve To 5-0 With 73-46 Win Over Stetson

The #23 Tennessee Lady Vols improved to 5-0 with a 73-46 victory over Stetson at home on Tuesday night. It was the first 5-0 start in the career of new head coach Kellie Harper, and it was the 500th Lady Vol game at The Summitt. The Lady Vols had a balanced attack with Rennia Davis scoring 15 and Jordan Horston adding 14. Three others reached double figures. It was the ... (click for more)

UTC Women Lose 72-53 At Cincinnati

The Chattanooga women’s basketball team fell 72-53 at Cincinnati Tuesday night at the Fifth Third Arena. The Mocs are now 1-4 overall and the Bearcats improve to 3-2. After getting behind 42-26 to start the third period, Chattanooga strung together a 17-5 run to make it a four-point game, 47-43, with 1:39 to play in the frame. The Mocs scored seven points off three Bearcat ... (click for more)