The conversion of an abandoned cold storage building into a thriving mixed-use center called King Street Station scored the 2023 CoStar Impact Award for redevelopment of the year in Chattanooga, Tennessee as judged by a panel of local real experts.
In 2017, locally based Urban Story Ventures bought the windowless warehouse built in the mid-1900s along with a parking lot next door to fashion the project, hoping to capitalize on the fast-redeveloping Southside area.
A portion of King Street Station became a Moxy boutique hotel. A six-story office building is part of the development along with a brewery and a Goodfella’s Pizzeria.
About the Project: The name King Street Station was inspired by its proximity to rail operations and the historic Chattanooga Choo Choo Hotel. The building reached 100% occupancy last year after custom buildouts were completed. One of the largest tenants is KCH Transportation, a trucking and supply chain management company with multiple offices across the U.S. It chose to expand its Chattanooga footprint at the new location, supporting about 300 employees.
What the Judges Said: “Urban Story did a fantastic job, and now has some of the best office space in the Southside submarket,” wrote Wilson McGinness, vice president of brokerage services at Rise Partners.
They Made It Happen: Brad Shumpert, executive vice president for Urban Story Ventures; Megan Freeman, director of tenant relations for Urban Story Ventures; Nicole Willis, director of property management Urban Story Ventures; and Hiren Desai, CEO, 3H Group, which owns the Moxy.