Preserve Chattanooga Sells Terminal Passenger Lobby, Ensuring Continued Protection of Historic Landmark
Preserve Chattanooga Sells Historical Icon
Preserve Chattanooga, a renowned historic preservation organization, has recently sold its portion of the iconic Terminal Station complex, located on Market Street. However, its commitment to protecting this important piece of the city’s history persists. The complex comes under the care of NorthPond Partners LLC, a real estate firm based out of Chicago, while the renowned local preservation initiative retains a special protective easement on the building.
Former Owners and Transitions
The domed former passenger lobby space, a treasure of the Terminal Station complex, was gifted to Preserve Chattanooga by Choo Choo Partners LP in 2018. Under their stewardship, the space served as a hotel lobby until 2022. Earlier this year, Preserve Chattanooga made the decision to sell the centerpiece of the complex to NorthPond Partners LLC. The partnership follows NorthPond’s previous acquisitions of north and south wings of the building, along with the Glenn Miller Gardens, from Choo Choo Partners LP.
Investments and Improvements
With a keen devotion to preservation, Preserve Chattanooga invested over $230,000 in the stabilization and enhancement of the historic structure. This included infrastructural updates such as implementing a new roof, miscellaneous repairs, and comprehensive preservation studies. Notably, a grant from the State of Tennessee enabled the creation of custom front doors that faithfully replicate the original design.
Preservation Easement and Continued Protection
As an essential part of the sale agreement, NorthPond Partners made a contribution to Preserve Chattanooga in the form of a preservation easement. This easement ensures protection for both the interior dome and external facade against demolition or inapt architectural alterations. In the words of Todd Morgan, the Executive Director of Preserve Chattanooga, the passenger lobby space forms an integral part of the whole complex and was never meant to exist independently. “Our organization is doing what we do best by holding a preservation easement that now protects this landmark property,” Morgan said as he assured the continuing safekeeping of this historic property.
The Legacy of Preserve Chattanooga
Alongside this, Preserve Chattanooga holds preservation easements on several significant buildings in the city including the Dome Building, the Customs House, and the Tivoli Center. Since its inception in 1909, the 82-foot-high domed passenger lobby has warmly welcomed visitors to Chattanooga, encapsulating the city’s vibrant history and its importance as a railroad crossroads. Today, the Terminal Station is a bustling hub housing popular restaurants and entertainment venues, and continues to be a must-visit attraction.
By ensuring this strategic shift in ownership accompanied by specific protective measures, Preserve Chattanooga has once again proven their dedication to the safeguarding of local heritage. This step ensures this historic gem retains its original grandeur, keeping the memories of Chattanooga’s past alive for generations to come.
