A $100 million residential development planned immediately north of Erlanger Park will break ground Friday, Nov. 13, at 10:30 a.m., marking a major step toward transforming Chattanooga’s Foundries District into a mixed-use neighborhood.
The six-story development will include approximately 287 apartments and a nearby parking garage with 550 spaces. Located adjacent to the ballpark’s left field concourse and the Tennessee Riverwalk, the apartments will offer views of Erlanger Park, Lookout Mountain and the Tennessee River.
New City Properties, the master developer of the Foundries District, is developing the project with investment partners EBSCO Real Estate and Sweetwater Holdings.
Construction is expected to begin following the groundbreaking, with completion anticipated in fall 2028.
“Despite macroeconomic headwinds, we and our investment partners, EBSCO Real Estate and Sweetwater Holdings, are proud to be taking this step,” says Jim Irwin, president of New City Properties. “Working to revitalize this historic property has been an incredible privilege, and it would simply not be possible without all the hard work and vision of countless individuals to make it a reality.”
The development will bring the first residents to the Foundries District, a former industrial area being transformed into a neighborhood featuring housing, commercial space, entertainment and recreational amenities.
The parking facility will serve apartment residents, future commercial tenants and visitors attending events at Erlanger Park.
The project is part of the broader redevelopment of the former U.S. Pipe and Wheland Foundry property, which includes the new ballpark. The district is intended to connect South Broad Street, downtown Chattanooga, surrounding neighborhoods and the Tennessee Riverfront.
“This is a major vote of confidence for the Foundries District,” says Andy Stone, partner at Perimeter Properties. “The goal has always been to create a vibrant neighborhood that’s active not just on game days, but year-round. This is the exciting first step toward making that vision a reality.”
The development represents the first major private residential investment in the Foundries District, with additional projects expected as redevelopment of the former industrial property continues.