In East Brainerd and Ooltewah, where population has been steadily growing, development continues for mixed-use spaces, apartments, health care, restaurants, and more.
Hamilton County’s thriving tourism industry, which brings in 15.6 million visitors annually, is directly correlated to the growth in hotel development, particularly high-end lodging. Two boutique hotels, The Edwin Hotel by Vision Hospitality and the Moxy Hotel by 3H Group, opened in 2018. Multiple developers have submitted plans to open several more boutique hotels in the coming years, including national brands Hotel Indigo, Aloft, Bode: Chattanooga, and Kinsley, another boutique hotel by Vision Hospitality planned for Chattanooga’s Southside. The historic Read House recently completed a $27 million renovation by Avocet Hospitality Group, and phase two of the project – which focuses on the Manor Building – is underway. Projected to open in the coming months are Tru by Hilton and Home2 Suites near Hamilton Place, both operated by Vision Hospitality. Atop Lookout Mountain, Scenic Land Company is moving forward with a $100 million upscale resort: the McLemore Resort Lookout Mountain, Curio Collection by Hilton.
Retailers and grocery stores are expanding and moving to the Chattanooga area to satisfy demand. Popular co-op REI, a department store, and new boutique retailers have recently opened in and around Hamilton Place Mall. The Hamilton Place area additionally welcomed a Publix supermarket. Two new retail centers, estimated at $18 million, are under construction in Ooltewah. Also in Ooltewah, Cambridge Square has grown to 10 buildings and 27 tenants in the past few years. Several new retail shops have opened in the Hixson area this past year, and new restaurants, from casual eateries to fine dining, have opened throughout the Scenic City as well.
Several of the largest hospitals are continuing to expand their facilities. CHI Memorial expanded its presence in North Georgia through the acquisition of Cornerstone Medical Center, formerly Hutcheson Medical Center, in Fort Oglethorpe. In 2018, Erlanger celebrated the official opening of the new Erlanger Heart and Lung Institute and Erlanger Behavioral Health Hospital, while continuing work on the Children’s Hospital at Erlanger and the newly opened Children’s Hospital Outpatient Center. Parkridge Medical Center is in the middle of a $28 million phase one capital expansion, part of their $62 million investment in the downtown facility.
As Chattanooga’s economy continues to strengthen, and more people move to the Chattanooga area, sustained growth is expected for commercial real estate.