Developers Of Walnut Hill Townhomes Sell Final Phase

  • Thursday, October 11, 2018

Developers of the Walnut Hill Townhomes are selling the final phase to another Chattanooga developer.

Dale Mabee of the original development group that launched the project in 2008 said the sale is to Calvin Ball of Tower Construction. He said some Nashville investors are also involved.

The sale to 245 Walnut Street Llc from Urban Renaissance Group Llc is for $3.2 million.

The townhomes will eventually cover the entire block bounded by Walnut and Cherry streets and Third and Fourth streeets.

Mr. Mabee said his group was ready to go on the final phase along Walnut Street when it obtained the offer for a site that is now a surface parking lot.

He said he and co-developer Don Moon are nearing retirement. He said the third developer, Mike Moon, is turning his attention to single-family homes and car washes.

Mr. Mabee said, :We feel some attachment to our neighbors who bought the current townhomes and the deal includes a contractural obligation that the remainder of the townhomes be built to the same quality.

He said they will use the same plans and design as his group was ready to proceed on.

Mr. Mabee said the transaction includes some signed reservations for some of the units.

In the final phase, there will be two-story and three-story units with prices ranging from $750,000 to above $1 million, it was stated earlier.

Smaller units were built along Third Street after the initial spacious townhomes were constructed along Cherry from Third Street to Aquarium Way. 

There will be no townhomes facing Aquarium Way.

The group paid the city about $850,000 for the parking lot site. It earlier paid the city over $1 million for the rest of the property.

 

 

Breaking News
Latest Hamilton County Arrest Report
  • 7/12/2025

Here is the latest Hamilton County arrest report. (If your case is dismissed, just email us your name and date we ran it and we will promptly take off. Email to news@chattanoogan.com ) ADKIRSON,JAMES ... more

Bridge Inspections Prompt Lane Closures On I-75 In Bradley County
  • 7/11/2025

Drivers traveling on I-75 in Bradley County should be aware of an upcoming bridge inspection that will temporarily impact traffic. Sunday from 6:30 a.m. to 3 p.m. local time, Tennessee Department ... more

Work Replacing Drainpipe Prompts Closure Of Section Of Highway 41 In Marion County On Monday
  • 7/11/2025

Drivers traveling on Highway 41 (Cummings Highway) in Marion County should be aware of upcoming road construction activities that will temporarily impact traffic. On Monday from 6 a.m. to ... more