A stretch of Chattanooga’s riverfront used by heavy industry for more than a century is planned to become a $350m retail and residential district.
Urban Story Ventures, a Tennessee-based commercial property developer, expects construction to begin in 2027 at The Bend, its redevelopment of more than 120 acres beside the Tennessee River in the US.
The open-air scheme will contain homes, shops, restaurants, Class A offices, entertainment uses and public spaces. Urban Story Ventures is delivering it with Hill Partners, a US-based developer and operator of retail and mixed-use properties.
Architecture and design practice Perkins&Will will oversee the master planning and architectural vision created by Urban Story Ventures. The development will remain guided by the original Dover Kohl plan.
Completion is anticipated in autumn 2028, subject to the progress of pre-leasing.
Industrial site planned as 28-block riverfront development
The Bend occupies land formerly used by Combustion Engineering and later Alstom. Heavy industry operated there from at least 1888 until GE Power closed the Alstom turbine plant in 2016.
Urban Story Ventures president Jimmy White and his partners bought the GE Power site in 2018 for $30n. Further riverfront parcels were acquired separately.
The Bend is planned as a 28-block development. Its wider programme includes more than 1,000 homes, shops, restaurants, offices, hotels, entertainment facilities and public green spaces.
Work at the site is already under way. Urban Story Ventures broke ground on the northern phase in April 2024 and has led a $15m infrastructure investment serving the first five blocks.
The work has included roads, pavements, water and sewer lines and the burial of electricity cables. Industrial pipes and wiring were removed and replaced at depths of up to 20ft.
Retail and restaurant operators enter negotiations
Urban Story Ventures said it is negotiating with local, regional and national businesses across retail, dining, home furnishings, leisure and entertainment. No occupiers have been confirmed.
The developer expects the $350m district to create more than 1,000 jobs and generate over $100m in gross sales.
A public financing framework has also been approved for The Bend. Urban Story Ventures applied for up to $115m in tax increment financing for The Bend and the connected One Westside area.
The application proposed using part of the future increase in property-tax receipts and Chattanooga’s share of additional sales-tax revenue to support the project. The city and county approved economic impact plans in 2023. The Industrial Development Board authorised the development and tax-incentive agreement in March 2024.
Separate $300m amphitheatre planned at The Bend
Venu Holding, a US-based live entertainment and hospitality company trading as VENU, is developing a separate $300m amphitheatre at The Bend.
The 12,500-capacity Sunset Amphitheater Chattanooga is expected to be completed in late 2028. The stated development costs of the amphitheatre and the mixed-use district total $650m.
The wider Bend plan also includes a marina, affordable housing, office towers, parkland and access to the Tennessee River.
Images: Courtesy of Urban Story Ventures
