CHATTANOOGA, TENN. — Hilco Global Real Estate Capital has provided a $47.5 million loan to Urban Story Ventures to support the recapitalization and continued development of The Bend, a 100-acre mixed-use development underway in Chattanooga.
Plans for the project, which will feature more than 3,000 linear feet of frontage along a bend of the Tennessee River, include approximately 1,700 residential units; 1.1 million square feet of office space; 1.2 million square feet of dining, shops and service retailers; 600 hotel rooms; entertainment and cultural venues; and a 300-slip marina.
The Bend will be supported by public infrastructure investment through a public-private partnership structure between Urban Story Ventures and The City of Chattanooga. Jimmy White, president of Urban Story Ventures, says that the development has nearly $1 billion in potential investments in the works. The construction timeline for the project was not released.