600 Whitehall Rd is aland property for lease in Chattanooga, TN.
**Price Reduced $130k**This is a listing for the sale of Seller's entire membership interests in Hard Luck Land and Cattle Co, LLC and its Development Rights in the Horizontal Project Regime of River Point Condominiums. The vacant land available for Development is the remainder portion of Lot 2, Phase III (suited for a multi-unit complex) and the remainer of Lot 2, Phase IV (suited for 5 Single Family Sites shown as proposed sites #2 thru #6 in the attached document ("River Point, Site Plan, Exhibit B"), totaling approximately 2.5 acres. This is the Chattanooga area's premier location for residential development with broad views encompassing Lookout Mountain, Downtown Chattanooga, Tennessee River, The River Park, North Chattanooga, to Missionary Ridge and beyond. This location provides the finest views and easiest access to the active, vibrant North Shore and Downtown areas. In the moment it takes to choose, residents can go from catching view of an event to participating in it. Example recent events include IronMan Triathlon, Head of the Hooch Regatta and Lookouts Baseball Games to festivals like Riverbend, Southern Brewers' Fest and River Rocks Festival. The land is cleared, zoned R-3 and has been improved with development features including water, power, and a private gravity flow sewer line to an existing pump station. A storm water drain collection system is being installed as you read this. The Single Family Home Sites in Phase IV (5 proposed sites) have 375+/- feet of frontage and, where necessary, have pilings installed in preparation of steel frame construction. A future multi-unit condo building may be located immediately adjacent to the existing building to complete Phase III and may hold between 5 and 8 condo units depending on preferred design. Views from upper levels would extend west to Raccoon Mtn and north to Signal Mtn and Stringer's Ridge. Developer's rights and limitations are described in attached recorded documents. Approvals by the existing Condo Association are not required of Developer, but design features must be comparable to existing and foundation footers must be poured before the year 2020. This is an opportunity to build upon the established, proven, successful and sold-out Phases in this Project. Established Board of Directors ("Condo Association") provides self-directed management of owners, grounds, maintenance, etc. See attached Master Deed for River Point Condominiums (Book 7749, Page 704) where the highlights of Developer's Rights and Limitations may be found in the recitals section ("Witnesseth") and Sections: 4.4, 4.5, 4.6, 7.3, 15.1, 15.19, 22.5 and 22.6.
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- Joseph V Williams, agent and Rofo Pro