A 10-story apartment building is planned at the site of the former Kelly Cadillac at 900 Riverfront Parkway.
An application for rezoning said there will be 621 apartment units.
The project is also to include a parking garage with space for 907 vehicles.
There will also be 9, 920 square feet of commercial and/or restaurant space.
The applicant is Sports Car Garage Company - developer Barry Payne.
The property is now held by Southeastern Trust Co. under the Timothy A. Kelly Trust.
Tim Kelly put his property in a trust after becoming mayor of Chattanooga.
The site was later Kelly Subaru and then Crown Automotive, but it is now vacant.