Applications are due for $12 million in federal tax incentives to be awarded to property owners who are constructing or doing major renovations to commercial, industrial, and mixed-use (retail/rental houseing) buildings in selected Chattanooga neighborhoods.
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‘Commercial News’
Applications due for tax savings on commercial building projects
Saturday, October 3rd, 2009Joe Pleva on WDEF.com
Friday, October 2nd, 2009Walldorf Realty’s very own Joe Pleva was recently interviewed on WDEF. You can see the video below.
Another 230 Jobs Announced
Friday, June 26th, 2009Gestamp Corp. to build $90M Plant. VW Supplier to build Enterprise South Plant.
Gestamp Corp., which unveiled plans to build a $90 million plant and employ at least 230 people within three years at the Tyner site, is paying for the land, unlike Volkswagen.
Mayor Ron Littlefield said Gestamp, which will supply structural components for the new midsized sedan VW plans to build at its nearby plant, is paying about $35,000 an acre for a 49.7-acre tract, or about $1.74 million.
Gestamp’s new facility will go up near the intersection of Hickory Valley Road and Discovery Drive, close to the Hamilton County Schools offices and VW’s $1billion plant.
Trevor Hamilton, vice president of economic development for the Chattanooga Area Chamber of Commerce, said Gestamp is the first of the tier one suppliers to come to the area. Tier one companies typically need to be close to an auto assembly plant because of the key parts they produce.
Mr. Hamilton said Chattanooga continues to land companies and jobs despite the challenging economic environment. With Gestamp, Volkswagen, Chattem, Alstom, Arch Plastics, and Dixie Industries, more than 2,800 jobs have been recruited in the region, he said.
Despite Economy, CRE Portfolios Performing Adequately for Banks
Thursday, May 28th, 2009Recession is Driving Down Property Values, But Cash Flows Providing Cushion for Loan Values
For all of the dread concerning a widespread crash in the commercial real estate markets that has been
put into words in the first quarter of 2009, the nation’s largest banks seem relatively unruffled coming out
of the quarter.
That’s not to say that real estate asset quality has not deteriorated nor that problem loans have not
surfaced, but the prevailing attitude from bank executives in their first quarter analyst conference calls
was one of …
Volkswagen announces plans for factory in Chattanooga, Tenn.
Friday, May 29th, 2009Volkswagen announced this morning that it would build a
manufacturing plant in Chattanooga, Tenn. where it will build
a vehicle specifically for the North American market. The
plant will employ 2,000 workers from the tri-state area and is
expected to invest $1 billion in the local economy.
UT Analysis Shows VW to Boost Local Incomes by $511 Million annually
Friday, August 29th, 2008Tennessee Commissioner of Economic and Community Development Matt Kisber today released an analysis of the Volkswagen project in Chattanooga which shows the recently-announced assembly plant will boost incomes in the region by $511.1 million annually and generate more than $55 million annually in new tax revenues for both the state and local governments.
Wacker Chemical Finds a New Home
Friday, May 29th, 2009The announcement Thursday that Wacker Chemical Corp. will build a $1 billion plant
near the Hiwassee Industrial Park in Charleston in northern Bradley County is wonderful news
for the county, the region and the state. It is the third $1 billion industrial investment announced
in Tennessee in the past eight months and the second by a German firm in Southeast Tennessee
in the same period.
Tennessee makes ‘big deal’ Top 10
Wednesday, May 13th, 2009In the time of smaller business inventment nationwide, Tennessee is leading the country in landing the biggest business deals.
Among the 10 biggest business announcements in North America last year, two were in Tennessee, according to the annual report of such deals by Site Selection magazine.
FedEx plans Shallowford Road facility
Saturday, October 25th, 2008A new FedEx Freight facility nearly double the size of its existing Chattanooga site is planned for a Shallowford Road project. The 19-acre site was sold by agents of Herman Walldorf & Co., Inc. for $2.5 million. The project, estimated at between $5 million and $10 million, will position the company to grow its freight business and work force in the city, said Dennis Beal, FedEx Freight’s vice president of physical assets.
Herman Walldorf & Co., Inc. Completes Sale of Walgreen’s Site in Ft. Oglethorpe
Monday, October 27th, 2008A 20-year old concrete plant at the prominent intersection of Battlefield Parkway and Dietz Road has been purchased by DPGI, LLC. The six-acre site sold for $2.5 million. Concurrently with the acquisition, M & M Development Company of Knoxville purchased a site of 1.4 acres at the intersection to construct the second Walgreen’s in Ft. Oglethorpe.
