Planning Commission Approves 12-Story Mixed-Use Project Downtown Chattanooga

The Hamilton County Planning Commission voted 6-1 on July 7 to approve the Riverwalk Tower at the corner of Broad Street and Riverfront Parkway, clearing the way for a 185-unit apartment building with 12,000 square feet of retail space two blocks from the Tennessee Aquarium.

The vote comes as Chattanooga’s downtown vacancy rate sits at 7.4 percent, the lowest level recorded by the Chattanooga Area Chamber of Commerce since 2019. Local developers have cited rising demand from workers at nearby Unum and EPB headquarters, plus continued growth at the University of Tennessee at Chattanooga campus six blocks away. The timing also aligns with the city’s updated Riverfront District zoning rules adopted in March that allow taller buildings in exchange for public plaza space.

Site and neighborhood ties

The 1.8-acre parcel sits directly across from the Walnut Street Bridge pedestrian path and one block from the Chattanooga Choo Choo hotel complex. Planners required the developer to widen the existing Riverwalk trail by four feet and add 40 public bike racks to connect with the existing South Chickamauga Creek Greenway trailhead. The project also includes a 50-space public parking deck that will remain open after 6 p.m. for visitors to the nearby Creative Discovery Museum.

Construction is slated to begin in September 2026 with a projected completion in early 2028. Average rents are listed at $1,850 for a one-bedroom and $2,450 for a two-bedroom, according to the developer’s filing with the planning staff. The total project cost is estimated at $48 million, financed in part through a $6 million tax-increment financing district approved by the Chattanooga City Council in May.

Next steps for residents and buyers

Interested buyers can join a waitlist through the developer’s website starting August 1. The city’s housing division will hold two public information sessions at the Edney Building on July 22 and July 29 to explain how the new units factor into Chattanooga’s inclusionary housing goals. Final site permits are expected within 60 days, after which demolition of the existing surface lot will begin.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.