East Ridge Mayor Brent Lambert announced Tuesday that the city has recorded and closed the sale of Jordan Crossing to Exit One, LLC, Development Group.
Mayor Lambert said, “This is great news. The city has put state excess land in the hands of a capable development group and recovered all of our previous cost associated with this project. Closing this deal makes possible a great economic development opportunity in East Ridge over the next few years. Plus, we have immediately achieved a new and large tract of property being placed on the property tax rolls that previously was not paying any taxes to the city while owned by the state.
"This achievement has put us another big step closer to a major revitalization, development and re-development of Ringgold Road/Exit One. This coupled with the “Border Region” designation is a great and positive economic opportunity and a giant leap in the right direction for our city.
"Thanks to all who worked together to accomplish this goal of promoting economic development opportunities in East Ridge. A special thanks goes to John Anderson for all the dedicated hours of work with the state and others to get this City Council approved economic development goal accomplished. These type of retail developments do take time, but it no doubt will pay positive dividends for East Ridge and citizens for years to come.”