(Read more on the multifamily market.)
CHATTANOOGA, TN-Construction is expected to begin in two weeks on the $16-million, 58-unit Mayfair on Market condominium project on the 700 block of Market Street in the city's Central Business District.
The nine-story project is being developed by locally based Trafalgar Development Corp. The Chattanooga Housing Authority is providing nearly $3.4 million in equity financing through Fannie Mae under the Community Express program. The project will include 11,000 sf of ground-floor commercial space and a 182-space parking deck.
"The project is in the heart of the city's Central Business District just seven blocks from redeveloped areas along the waterfront," Trafalgar Development Corp. president Trey Stanley tells GlobeSt.com.
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