Hospitality and/or Residential Development Opportunity: R-1 LAND PRICE $730,000.00 (Roughly 3.5 acres) C-2 LAND, EXISTING BUILDING, AND PARKING FIELD PRICE $1,470,000.00 Preliminary plat showing property division between R-1 and C-2 is available for review. The development is spot zoned and ready for hotel conversion OR 24 townhome units, 12 condo units, 5,000 SF of commercial space, additional amenity space and R-1 Residential acreage in the rear. Phase 1 Environmental, feasibility study, and preliminary engineering plans are complete. Building scan is attached showing the existing conditions as a total of 20,514 SF under roof as well as architectural floorplans for condominium conversion and commercial space. Existing building has been stabilized and is currently in shell condition with construction fencing in place. Situated adjacent to Walden's Ridge Park, this 6.5+ acre redevelopment opportunity has been curated to the ever-growing outdoor culture of Chattanooga. Walden's Ridge Park is the most progressive publicly owned down-hill mountain biking park east of the Mississippi. With over 12 miles of trails for trail running, hiking, and biking as well as established rock climbing routes, guests and home owners will step out of their back door, cross over a year-round spring fed creek, and walk or ride into the 200-acre park. This redevelopment opportunity is located at the base of Signal Mountain and offers spectacular views of sandstone bluff lines. With only one stop light, the drive to Chattanooga's City center is 11 minutes away. PROPERTY CAN BE PURCHASED AS ONE PARCEL OR SPLIT ALONG THE R-1 & C-2 BOUNDARIES. R-1 LAND PRICE $730,000.00 C-2 LAND, EXISTING BUILDING, AND PARKING FIELD PRICE $1,470,000.00 The Making of Walden's Ridge Park "Walden's Ridge Park offers a unique bike-optimized experience on public lands that is a regional draw and national destination for thousands of riders each year. This bike park is similar to what lift-served ski resorts offer in the rocky mountains and New England. Riders in the southeast now have a destination close to home rather than driving long distances for the high-quality trails found at Waldens." - Mike Repyak, Trail Solutions Director of Planning and Design This property is spot zoned C2 and the remainder of the property is zoned R1. The clubhouse, parking lot, and surrounding area are zoned C2. The parking lot of the property is currently under a one year lease to Hamilton County that runs through October 2024.