Urban Story Ventures Purchases East Ridge Shopping Center for New Development
A New Era for East Ridge Shopping Center
Urban Story Ventures, a prominent Chattanooga-based development firm, has confirmed the purchase of the previously closed Food City grocery store and several nearby properties located at 3715 Ringgold Road in East Ridge. The purchase, finalized last November, signals a new era for the 13-acre complex that has remained vacant for nearly six years following the Food City’s closure.
Revitalizing the Heart of East Ridge
Urban Story Ventures, an organization engaged in redeveloping three significant industrial and golf estates in Chattanooga, is now committed to revitalizing East Ridge’s oldest shopping center. The company’s president and managing partner, Jimmy White, announced that the firm has embarked on a collaboration with the city of East Ridge to bring fresh life to the 13-acre property. White shared the company’s enthusiasm for the project, “We’re excited to collaborate with elected officials in East Ridge as we move forward with our plans to revitalize this up-and-coming area.”
The Former Food City’s History and Plans for Future Development
Food City, a company that took over the Chattanooga area Bi-Lo grocery stores in 2015, discontinued the operation of their 38,000-square-foot grocery store on Ringgold Road in 2018. This decision came about when Food City decided to establish an expansive, new outlet across the street. Since then, the retail complex has remained vacant and underutilized, until now.
The Vision of Urban Story Ventures
The new development plan by Urban Story Ventures aims to breathe new life into the property, positioning it as a critical part of the city and East Ridge community’s revival. The full extent of the plan is yet to be disclosed. However, the purchase undoubtedly marks a turning point for the property and is a positive sign of progress for East Ridge’s community, which has been anticipating new investments and developments for the site.
A Positive Indicator for East Ridge’s Growth
This acquisition by Urban Story Ventures indicates growing interest from investors and businesses in East Ridge. As the company works on their redevelopment plans, city officials, business leaders, and residents eagerly anticipate the benefits that this new development will bring to the local community. The revitalization plan will likely spark an upsurge in economic activity and provide new opportunities for local businesses, thereby playing a key role in enhancing the overall vibrancy and attractiveness of the area.
In conclusion, the purchase and subsequent redevelopment planned by Urban Story Ventures showcase a tangible commitment to the resurgence of East Ridge. This is undoubtedly a hopeful step for the entire region, indicating potential growth, prosperity, and exciting new opportunities for the residents and businesses of
