Wednesday, November 14, 2012
As soon as next week, tenants could be moving into new apartments at the corner of Sixth and Vine streets.
Called The 300, the new 108-unit development that has been under construction in the former St. Barnabas independent and assisted living facility is geared toward young professionals.
“We’ve basically stripped down everything but the walls and replaced the counters, appliances, toilets, vanities, flooring and light fixtures,” said developer Bob McKenzie. “The only thing that hasn’t really changed is the floor plan. The building is still a mix of studio and one-bedroom apartments.”
He said studio apartments will rent for $575 monthly and one bedrooms will rent for either $750 or $875 depending on the model. McKenzie said one of the main goals with this development is to help people achieve the downtown lifestyle they have been looking for without charging too much.
“We’ve known for a long time there’s a pent up demand for downtown living,” he said. “UTC student housing has a real shortage, plus there are so many condominiums that were built downtown and a lot went into the rental market because they couldn’t sell. They’re very nice and very large, but just too expensive. Your average young professional fresh out of school with their first job can’t necessarily pay $1,500 a month.”
For more information about leasing or to tour a model unit call 710-6337.
In addition to the apartments, McKenzie said he is leasing the four-story building adjacent the apartment complex to Chris Thomas with the Chattanooga Market. Thomas is planning to use the space to create artists’ studios for current vendors at the market.
“We’re really excited about that great synergy between the two buildings,” McKenzie said. “Not only is Thomas helping with the downtown economy, but he’s helping improve local artists’ situations by providing a space that is functional for them.”