One of North America’s largest privately held homebuilders is expanding into Tennessee. Empire Communities has received a green light from Chattanooga planners on its first project in the Volunteer state, and its Southeast Division is moving forward on the development.
Mixed-use development plans
The preliminary site plan doesn’t give the project a name but is located on the massive former Cigna office site off Goodwin Road in East Brainerd, Tennessee. The former Cigna tract, which is nearly all vacant, sold for $24.7 million late last year. The total tract is 95 acres. Hamilton County purchased the building and nearly 19 acres for $7.9 million with plans for a new public school.
The mixed-use development will include nearly 430 single-family homes and townhouses. Prices for homes will top out at about $450,000. Additionally, META Real Estate Partners plans to build 350 apartments on a separate parcel on the old Cigna site.
The Chattanooga-Hamilton County Regional Planning Commission has approved the development, but the City Council must still give its approval.
This project is expected to be one of Hamilton County’s largest new residential developments, with an estimated cost of over $200 million when fully built. The project will begin this summer, and the first residences are expected to be ready by the end of the year.
East Brainerd, Tennessee, is a suburban community located in the southeastern part of Chattanooga. There are plenty of things to do in the area, including shopping at the Hamilton Place Mall, which is one of the largest shopping centers in the southeast. Nature lovers can take a stroll at the Audubon Acres and Maclellan Island Preserve, which features several hiking trails and offers a glimpse of the Tennessee River.
The community also has several parks and sports facilities, including the East Brainerd Baseball Complex and the Frost Stadium, home of the University of Tennessee at Chattanooga Softball team. Additionally, visitors can experience the local culture and history by visiting the Chattanooga Civil War Cemetery or the Chickamauga and Chattanooga National Military Park, both of which are just a short drive away from East Brainerd.
Why are midsized markets like Chattanooga popular?
Midsized markets, like Chattanooga, will continue to grow because many people can now work from anywhere. Other reasons for this significant growth include people looking for affordable housing options outside of larger cities. As real estate prices continue to rise in major urban centers, mid-sized markets like Chattanooga offer a lower cost of living while still providing access to urban amenities.
Many companies are moving their operations to mid-sized markets to take advantage of lower business costs and a more favorable regulatory environment. This has resulted in an increase in job opportunities, which, in turn, attracts more people to the area. Additionally, mid-sized markets like Chattanooga are often located in areas of natural beauty, with easy access to outdoor recreation opportunities. As people prioritize their work-life balance and quality of life, these factors are becoming increasingly important in deciding where to live. All these factors combined to contribute to the growth of mid-sized housing markets like Chattanooga.
Empire Communities has eight active communities in the Atlanta area. More information? www.empirecommunities.com/atlanta/community/