Vance Road, Chattanooga, TN 37421

This 5.74-acre property presents a fantastic opportunity for future development. Zoned C-2 and R-3, the site is located within 1 mile of Chattanooga Airport, Hamilton Place Mall, and freeways I-75 and Hwy 153. The property includes an existing detention pond and is mostly wooded, with access points and the pond area cleared. Two access points are available with frontage on Vance Rd. The bulk of the acreage is zoned R-3 (multifamily) and C-2 (commercial/multifamily). All utilities are accessible in Vance Rd, including electric at nearby poles, public water, and sewer. The zoning department has approved the R-3 and C-2 zoned acreage for a density of 1 unit on the first 7,500 SF of land plus an additional unit for every 2,000 SF. A 55 Townhomes concept would likely yield something in between the two single family and multi-family concepts. Based on measured acreage, the max density would be 101 units +/-. Given its proximity to the airport, Volkswagen Plant, Amazon fulfillment center, and other commercial/industrial jobs, this site is ideal for build-to-rent townhomes or flats. The area is growing, especially heading further east from the city toward Ooltewah. An existing 386-unit apartment project nearby is in the final stages of completion, and another proposed development of over 150 units is slated to break ground later this year. An existing concept shows a moderately dense site plan for 66 flats in two-story buildings and an alternate concept for single families.