Matthew: What’s up, everybody? Matthew Whitaker back here with another “Where to Invest in Chattanooga downtown” episode with my man, Alex Smith.
Alex: What’s up, everybody?
Matthew: We are going…we already done a video on kind of the general areas that people invest in. Now we wanna start digging into some of the areas that we talked about that we just hit on a high level in another video. So we’re gonna dig into downtown Chattanooga today. So super excited about that. I am going to share my screen with Alex so he knows what we’re talking about. And I’m gonna pull up an aerial view of downtown Chattanooga.
So, Alex, I mean, the cool thing about downtown Chattanooga, you and I were talking right before this, is it has a lot of diversity. I mean, you have some really nice areas and some areas that are undergoing some gentrification so I’m super excited to hop in here and take a look. I think what people know best is areas around the Tennessee Aquarium, the Museum of American Art. So let’s start there. Let’s start right there on the river. Talk a little bit about that area for us.
Alex: Yeah, sure. So, like you mentioned, the Aquarium’s there. You got a couple of museums. In terms of housing, what you’re gonna get here is you’re gonna get pretty much 100% condos. You know, these will be really nice condos. They’ll be, you know, from low thousands to high two’s, that sort of thing. A lot of young professionals will call this area home. But, yeah, that’s pretty much what you’ll get.
Matthew: Yeah, this is a really cool area… Yeah, I’m sorry, Alex. I didn’t mean to jump in, but this is a super cool area. One of the cool things too is the walking bridge that takes you kind of to the North Shore area where there’s some really unique shops. Think right in here like nice restaurants, everything’s walkable. Except I know you have to go up to the bluff right there. So some people might not call it walkable but it’s a really neat, cool downtown area.
So jumping from there over to UTC, the University of Tennessee at Chattanooga, why don’t you talk a little bit about investing around the university?
Alex: Yeah, so around the university in Fort Wood and Martin Luther King, you’re gonna get, you know, a pretty decent combination of condos/apartments/houses. You know, your tenant populations here is gonna be mostly students who just want like a short walk or a short drive to school. You’ve also got the hospital in there. That’s a regional hospital so they get all kinds of people from all over coming in there. You’ve also…so Martin Luther King. You’ve also got the Chattanooga Choo Choo in there. There’s a ton of good restaurants in there. So, you know, you’re gonna get a lot of people visiting the city to go to either north of the city or this particular area right here.
For housing, if you don’t get…if you’re not dealing with apartments or condos or, you know, like small student-type housing, you know, it’s probably gonna be a historic home.
Matthew: Very cool. And I can remember as a kid going to the Choo Choo. So this area right here is a very…is a regional draw for like weekend vacationers. So it’s an awesome area to invest. It’s going a lot…it’s undergoing a lot of revitalization. All right, let’s go east and look at the Zoo, Orchard Village, Orchard Knob, Highland Park area.
Alex: Yeah, so these four areas, when Matthew mentioned gentrification a second ago, this is where it’s gonna be. So on one street you might have, you know, mostly
houses that had been flipped and flipped and fixed up and have young families living there. You know, either the next street or a couple of streets over you might have some houses that, you know, we’re looking for somebody to flip. So you’re gonna have a lot…it’s gonna…your quality of properties here is gonna be across the board.
Another thing to note here is the word on the street is that the schools are not…public schools are not great in this area as a whole, this area being downtown. Another thing to note is that, you know, if you’re interested in getting into Section 8 housing, this is where you’ll find some good Section 8 type houses.
Matthew: So you’re talking super diverse, I mean, all the way from professionals to Section 8.
Matthew: All right, cool. So as we head west, we jump over the National Cemetery into the south side historic district.
Alex: Yeah, so just like it says, most of the houses here are gonna be huge historic type homes built a long time ago. Not really a ton of rental potential out here. I cannot think of a house that we manage in this area. If we do manage one, it’s probably one or two. There’s not many.
Matthew: Very cool. And then, am I right, kind of south of that you get into some industrial west of that? You get into some industrial as well, right?
Alex: Yeah, correct.
Matthew: Very cool. So, obviously, the Tennessee River running through the city is an important part of the city’s history. People love to live where they can see the river. There’s multiple mountains around this downtown area. But we’re super excited about Chattanooga. I was on the phone yesterday with an investor and I was telling him that Chattanooga was the place that he needed to be looking. So any last thoughts from you, Alex, before we send them on…send our viewers on their way?
Alex: Yeah, couple things to plug Chattanooga a little bit. So I read an article today on forbes.com that Chattanooga was tied for sixth nationwide for cities where jobs are gonna be for 2019. Another thing is that Volkswagen is building a new…a plant specifically for their electric cars that’s gonna open, I believe it’s 2022. I could be wrong on that but it’s sometime in the next few years so.
Matthew: Do you know where that’s gonna be built?
Alex: Yeah. Volkswagen is out east over…it’s kind of north-ish of Ooltewah.
Matthew: Okay, so right up off of 75?
Matthew: Very cool.
Alex: Yeah. So a lot of potential for a huge influx of people moving to the city for one reason or another. So this is a perfect time to get into investing in Chattanooga.
Matthew: Awesome. Well, Alex, thank you so much. This was very helpful. If you have any questions, I know Alex will be super helpful. Why don’t you give them your number real quick, Alex?
Alex: Yes, so my number is 423-648-7368.
Matthew: Awesome. And we will see you all later. Thank you.