Work is set to begin in September on a major residential and commercial project in downtown Chattanooga.
The Beach Company, of Charleston, S.C., earlier acquired 2.79 acres bounded by Third and Fourth streets and Walnut and Cherry streets. The location has been in use in recent years as a Unum parking lot.
It will be developed as a mixed-use community called River Rock.
The community will offer 16,000 square feet of commercial space in addition to 163 multi-family units consisting of studio, one-, two- and three-bedroom floor plans as well as townhomes with attached garages.
“River Rock will deliver high-quality live-work-play options for Chattanooga’s growing population of residents looking to live in this dynamic and energetic part of the city,” said Alan McMahon, development manager at the Beach Company.
“River Rock will help transform the 4th Street corridor into a walkable and vibrant gateway into the city,” said Kim White, president and CEO of River City Company, the nonprofit organization focused on downtown Chattanooga’s economic, social and cultural growth.
“We are confident in the Beach Company’s ability to deliver a high-quality project that further enhances one of the area’s most beautiful neighborhoods.”
The Beach Company was represented in the transaction by JC Darby of Southeast Venture.