Urban Story Ventures Purchases East Ridge Shopping Center for New Development
Plan To Transform Vacant Retail Space Into Thriving Community Hub
Chattanooga – Urban Story Ventures, a development firm headquartered in Chattanooga, has recently announced plans for an ambitious entrepreneurial venture. The firm has acquired the East Ridge shopping center, which includes a vacant Food City grocery store, with the intent to redevelop the area.
Urban Story Ventures aims to breathe new life into what was once the bustling heart of East Ridge retail. The company has purchased the property located at 3715 Ringgold Road, which had been sitting idle for almost six years after the closure of its main tenant, Food City, a popular grocery store.
Collaborative Effort with East Ridge City Officials
In a statement released earlier this week, Jimmy White, president and managing partner of Urban Story Ventures, shed light on the firm’s initiative. He affirmed that the firm is currently working in close partnership with the city of East Ridge to revitalize the 13-acre property.
“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,” White expressed in a statement.
Plans for Redevelopment
Urban Story Ventures has developed a reputation for its creative and environmentally responsible development schemes, having previously redeveloped three major industrial and golf properties in Chattanooga. This new project continues the company’s mission of transforming deserted properties into thriving community hubs.
The specifics of the redevelopment plan for the East Ridge shopping complex have not yet been disclosed. However, the initiative is expected to increase commercial activities, create job opportunities, and contribute to the overall prosperity and beauty of the area.
History of the Shopping Center
The former Food City grocery store, the central property under consideration, emerged from the Chattanooga area’s Bi-Lo grocery stores, which Food City parent company K-VA-T Food Stores, Inc acquired in 2015. It closed its doors in 2018 when Food City decided to construct a larger, modern store across the street.
Subsequent to its closure, the Food City grocery store’s property, along with the surrounding retail complex, has remained vacant. The property’s new ownership by Urban Story Venture brings new hope for the commercial potential of the area.
Moving Forward
White reiterated that the project’s main objective is to trigger local economic growth and provide community amenities that cater to residents’ changing needs.
The redevelopment project in the East Ridge shopping center is the latest undertaking promising economic growth and urban revitalization in the heart of East Ridge. The community eagerly awaits additional details and the ultimate realization of the planned redevelopment
