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.

 

Breaking News
Frye Mansion At Wildwood Destroyed By Fire
Frye Mansion At Wildwood Destroyed By Fire
  • 5/10/2025

A Wildwood, Ga., mansion that was built in 1896 has been destroyed by fire. A number of fire units responed to 1860 Pope Creek Road, but the historic house was completely engulfed by flames. ... more

Man In Critical Condition After Being Pulled From Duplex Fire In East Chattanooga
Man In Critical Condition After Being Pulled From Duplex Fire In East Chattanooga
  • 5/10/2025

A man was in critical condition after being pulled from a burning duplex in East Chattanooga on Saturday morning. Firefighters had to knock flames down as they made their way through the home ... more

Misty Carelli Dies From Car Crash Injuries That Earlier Claimed Her Husband
  • 5/10/2025

Misty Carelli, 52, of Hixson has died from injuries suffered in a car crash in Mount Nebo, West Va., last Monday. Her husband, Ronald Carelli, died earlier after their vehicle ran into the ... more