The City of Chattanooga has received its first application for its new Affordable Housing Payment In Lieu of Taxes (PILOT) program — a major incentive aimed at boosting affordable housing development.

Atlanta-based real estate firm Atlantic Companies was the applicant, and they presented their proposal to the Chattanooga City Council on Tuesday during the Affordable Housing Committee Meeting.

The proposal outlined plans to transform a long-vacant industrial site at 702 Manufacturers Road into a mixed-income apartment complex.

The project would cover 7.28 acres, include five buildings, and 278 apartment units with 42 units set aside as affordable housing.

According to the developer, 75 percent of those affordable units will be priced for households earning 60 percent of the area median

See Full Page