Urban Story Ventures Breaks Ground on THE BEND®
CHATTANOOGA, Tenn. (April 10, 2024) – Southeast real estate development group Urban Story Ventures broke ground today on the North Phase of THE BEND®, a 120-acre mixed-use redevelopment along the Tennessee River in Downtown Chattanooga.
Community stakeholders, business leaders, and neighboring businesses on the Westside gathered for the groundbreaking ceremony, where Mayor Tim Kelly, Mayor Weston Wamp, and Chamber President and CEO Charles Wood shared their full support of the transformational downtown riverfront project.
“For nearly a year, we’ve worked alongside Mayor Wamp and Urban Story Ventures to get the best
possible deal for the residents of Chattanooga and Hamilton … This project essentially adds a whole new neighborhood to Chattanooga, and transforms another, so it’s not a stretch to call this a generational opportunity,” shared Chattanooga Mayor Tim Kelly.
“The Bend represents an unprecedented partnership between visionary developers and an equally ambitious future for public education in which students will have opportunities to engage in work-based learning with companies just down the road from the new Gateway site. I’m grateful Jimmy White and the team at Urban Story Ventures partnered with taxpayers to align their success with our community’s success, and I look forward to cheering them on,” said Hamilton County Mayor Weston Wamp.
“X,” stated Charles Wood, President and CEO of the Chattanooga Area Chamber of Commerce.
This past month, Urban Story Ventures received unanimous approval for the One Westside Plan, a public-private partnership that utilizes a tax increment financing (TIF) agreement to develop public infrastructure at the Bend and revitalize the Westside community by funding affordable housing, public education, and a new downtown school.
An independent analysis completed by Younger & Associates showed that the Bend is expected to generate nearly $1 billion in new investment over the next 30 years.
The groundbreaking ceremony is the kickoff to the North Phase of infrastructure, previously referred to as Phase 2 on the Martin Luther King Boulevard side of the site. This spring/summer, the development team will move forward with infrastructure projects that are critical for preparing pad-ready blocks for mixed-use, including intended use for an urban grocery store, new office and retail space, multi-family apartments, and parking.
Urban Story Ventures is already pre-leasing commercial space at the Bend and has $1.3 billion in the pipeline. The company plans to make several exciting announcements later this year. Lead partners include master town planner and urban design firm Dover, Kohl and Partners, general contractor Grace Construction, engineer and landscape architect RaganSmith, architect Tinker Ma, and environmental consulting firm Terracon. Additional information can be requested by emailing [email protected].
About Urban Story Ventures
Urban Story Ventures is a Southeast commercial real estate development group based in Chattanooga, Tennessee. Led by Jimmy White, the company’s portfolio focuses on mixed-use, office, industrial, and retail sites, reimagined for their highest and best use. Projects include iconic and historical landmark buildings as well as 100+ acre redevelopments like the Bend. Full-service capabilities include property management, billing, leasing, security, landscaping, and maintenance. For more information, visit UrbanStoryVentures.com.
