401 MLK Partners will soon begin construction on a 12,000-square-foot mixed-use building on East Martin Luther King Boulevard.
The structure will serve as the local home of Nashville’s Slim & Husky’s Pizza Beeria and additional office space.
Formed as an LLC in 2019, 401 MLK Partners focuses on development in downtown Chattanooga.
401 MLK Partners recently purchased the property from River City Company.
River City Company serves as a nonprofit economic engine to all areas of downtown, including the MLK corridor.
To date, the agency has invested more than $1 million through property acquisitions, building improvements and new business and signage grants, says president and CEO Emily Mack.
“401 E. MLK Boulevard was one of the properties we acquired in 2015 from the Campus Development Foundation with the support of the Benwood Foundation to facilitate development for the corridor and [the University of Tennessee at Chattanooga].
“We will reinvest the proceeds from the sale of this property back into the MLK corridor, making further improvements, supporting the businesses already there and attracting new ones.”
Slim and Husky’s Pizza Beeria is scheduled to open in early 2022.
Construction on the building is projected to be completed in late 2021.
Sources: 401 MLK Partners, River City Company