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702 Manufacturers Road is a Class A, 278-unit multifamily community located directly on the Tennessee River in Chattanooga’s vibrant North Shore district. This best-in-class development will deliver high-quality workforce housing with strong affordability appeal, complemented by exceptional on-site amenities and access to the city’s growing network of outdoor, dining, and entertainment options.

Strategically positioned as the only apartment community with direct river frontage in Chattanooga’s urban core, the property offers residents unmatched access to the Tennessee Riverwalk, downtown employers, and an expanding base of retail and recreational amenities.

Residents will enjoy a robust amenity package, including a river launch pad for paddle boards and kayaks, a resort-style pool with sun deck and tanning ledge, state-of-the-art fitness center with yoga and spin room, sky lounge and rooftop observatory overlooking the river, an onsite coffee bar, co-working space, clubroom with demo kitchen, and extensive outdoor grilling and social areas.

The project is being developed by The Atlantic Companies, a well-capitalized and experienced institutional sponsor, with completion targeted for 2027. Their execution capabilities, paired with strategic partnerships and best-in-class design, position the community for rapid lease-up and long-term success within Chattanooga’s most desirable submarket.

CORE PROJECT DETAILS
Asset Type Multi-Family Residential
Development Type Ground-Up
Previous Use Vacant Lot
Investment Closing Date December 09, 2025
Total Development Area 227,445 SF
Construction Timeframe 22 months post-close
debt
Construction Debt

$47.0M

TOTAL DEBT

$47.0M

OTHER
ASREF JV Equity

$24.1M

Sponsor Equity

$2.7M

TOTAL OTHER FUNDING

$26.7M

Project Impacts

Community
Demographics

15%

Poverty rate

Upper

Community Income Status

19%

Community Minority Population

Community
& Social
Impacts

42

Units of affordable housing built

15%

Of units affordable at less than 80% of the Area Median Income

60%-120% AMI

Typical rent cap for most units

Economic
Development
Impacts

Alignment with Chattanooga’s Housing Needs – Supports the city’s goal of increasing affordable and workforce housing near the urban core.

Advances Chattanooga Riverfront Redevelopment Priorities – Converts an underutilized industrial corridor into productive residential use.

Supports Local Economic Growth – Brings new households within minutes of downtown, boosting demand for local businesses and services.

Environmental
Impacts

Adaptive Re-use of Previously Industrial Land – Limits greenfield development by revitalizing an existing urban site.

Potential for Modern Energy-Efficient Construction Standards – Incorporates updated building systems that reduce long-term energy consumption.

Improved Urban Land Utilization – Infill development reduces transportation-related emissions by placing residents closer to jobs and transit.

Project Impacts

Employment,
Economic &
Fiscal Impacts

236

$362.5M

 


 

7%

Low-Income
Accessible Jobs

Economic
Development
Impacts

X

Projects in
Economic Zones

X

Alignment with
Economic Dev Plans

Community
& Social
Impacts

1,917

Housing Units Built

84%

Low-Income
Affordable

7%

Workforce
Housing

Environmental
Impacts

21

Repurposed Vacant Buildings
(1,845,549 SF) out of 58 total
Units Built Buildings (2,130,421 SF)*

LOCATION & CENSUS TRACT MAP

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American South Capital Partners collects each project's census tract income level at the time of close as part of CRA reporting guidelines. Source: Federal Financial Institutions Examination Council Geocoder.

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About the Developer

The Atlantic Companies (TAC) is a fully integrated real estate investment and development firm formed through the merger of Atlantic Capital Properties and Gateway Ventures Real Estate. Led by seasoned partners Jim Meyer and Mack Reese, the company brings deep expertise across development, construction management, finance, acquisitions, leasing, and property operations. TAC specializes in executing complex office, mixed-use, life science, residential, and research projects using a wide range of financing structures. With a portfolio spanning Georgia, Florida, South Carolina, and Alabama, TAC has delivered high-impact projects such as 8West, Midtown Tampa, WestEdge, and Laurel at Dry Creek. Their multidisciplinary team structure enables them to manage every phase of a property’s lifecycle with precision and long-term value creation.

Site Background & Location

AREA PROFILE
Location 702 Manufacturers Rd, Chattanooga, TN
Area Chattanooga, TN–GA Metropolitan Statistical Area
LMI Community Status Upper
Unemployment Rate 3.2%
Poverty Rate 14.6%
% Minority 18.7%

The planned development at 702 Manufacturers Road will be located in the city of Chattanooga, Tennessee — the county seat of Hamilton County, Tennessee — which anchors the Chattanooga, TN–GA Metropolitan Statistical Area, a multi-county region spanning parts of Tennessee and northwest Georgia. The city lies along the Tennessee River in the scenic Appalachian foothills, combining river-front geography and hills.

Featured News


Atlantic Cos. Lands Equity for Chattanooga Project

This will be the first development in its neighborhood to be located along the Tennessee riverfront.

Another Large Apartment Complex Going In On Manufacturers Road

Another large new apartment complex is going in on Manufacturers Road. This one will be at 702 Manufacturers Road west of the freeway.

Groundbreaking celebration for 702 Manufacturers Rd in February 2026

ASREF CRA Analysis

ASREF’s $12 million preferred equity investment in 702 Manufacturers Rd will create a high-quality workforce housing in a rent-burdened metropolitan statistical area.