180-Room Hotel, Japanese Restaurant Studied For Project
posted January 10, 2008
A $30 million renovation is being eyed at Warehouse Row that could include a new 180-room hotel and a Japanese restaurant.
Officials said there could be 213 new jobs created, and the current 150 employees would be retained.
Jamestown Properties of Atlanta, in conjunction with the major Warehouse Row improvements, is also looking at acquiring properties from Main Street to 11th Street to help enhance the Southside area. Those include refurbishing derelict properties across from the Chattanooga Choo Choo, officials said.
The firm plans to remove all the green canopies at Warehouse Row and retrofit and clean the exterior to the building. Warehouse Row is a collection of old warehouse buildings along South Market Street that earlier were converted as an upscale mall. The center in recent years has shifted toward more office tenants.
Cigna occupies 63,000 square feet at the north end of Warehouse Row, and their lease expires at the end of October. Warehouse Row officials said they initially did not hear from Cigna on renewing the lease, and they began planning the hotel.
Bryan Long, a Jamestown spokesman, said the firm recently was told that Cigna would like to renew for two more years.
He said Jamestown is evaluating that possible renewal of the lease as well as considering the idea of putting a hotel in that space.
He said no deal had been reached with a hotel firm.
The city and county are considering transferring property at 11th and Lindsay where there is now a fountain for the project.
Plans also include opening the exterior retail access to the sidewalk and beginning the parking renovation on the east side of the building and along Lindsay Street. New signage will be installed.
Mr. Long said, "We are working very hard with our current tenants and want to retain them."
Officials said there will be a lease-up program for national retailers. They said storefront parking is a critical need, and some of the city-county lot will be used for that purpose.
The firm plans to carry out continued renovation of designated retail areas on the first floor and basement restaurant area.
Additional retail out parcels may be developed around the building, it was stated.
On acquiring other properties on South Market Street, Mr. Long said, "Some owners have approached us and we are evaluating their properties. None of the numbers are looking good at this time. No deals have been signed."
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