Monday, January 01, 2018 09:46 PM

APARTMENTS, MANUFACTURING, LODGING AMONG NEW CONSTRUCTION IN CHATTANOOGA

Outlook 2018 The new year begins with the strongest economy in Chattanooga in more than a decade. A year-end survey found small businesses owners across America to be as optimistic in their business outlook as any time since the 1980s. Last year, the Chattanooga area added jobs at three times the pace of the country as a whole and the local economy is poised for another year of expansion. As the economic recovery enters its eighth year, sustaining the the same pace of economic growth and momentum is getting tougher, especially in a tight labor market with interest rates expected to edge higher through 2018. Nonetheless, the Chattanooga region is poised for growth this year from more road building, new battery-powered vehicles, additional apartment and subdivision development and continued growth in the region's changing entertainment and dining landscape. Undergoing an array of new building projects, downtown Chattanooga is expected to see a steady 2018 even though apartment construction is slated to slow down. "The multi-family market probably has reached its peak," says broker Chad Wamack of NAI Charter Real Estate Corp. "It's starting to get its plate full." With upwards of $1 billion in new construction ongoing or planned, downtown ...

News source: Times Free Press

See also: Grace Frank Group