Remember this 2006 video? “The East Ridge Song” dubbed the city a mecca for cash advance businesses + tanning beds, but now — thanks to a multi-million dollar investment — the municipality “has greener days ahead.”
That’s how East Ridge Mayor Brian Williams described the impact of Utah businessman Bob Martino’s $125 million investment into a development, which will be anchored by a new soccer stadium for United Soccer League’s Chattanooga Red Wolves.
Tuesday morning, dozens — including Gov. Bill Lee — gathered for the stadium’s groundbreaking.
⚽ Fast facts
- A year ago this month, news broke that Martino had secured the rights to bring a USL team here.
- In April, Red Wolves officials announced plans for the new mixed-use development that includes the stadium, green spaces, restaurants and a new hotel.
- Martino wants to create experiences around soccer + the stadium and has plans that include 400 apartments + condos.
- Shops + restaurants are also included in the plan.
- The plans also include 375 hotel rooms and 475,000 square feet of commercial space.
- The economic impact will span the region with the creation of 1,200 new jobs, not including the construction and other businesses.
- The property — which will be built over the next 3-5 years — is expected to generate between $6 and $7 million in tax revenue each year.
⚽ Quoteworthy
“Today we are turning over dirt and turning over a new leaf in East Ridge. For years, this area has remained dormant, and we are thankful to Bob and the team for breathing new life into this property and committing to creating hundreds of jobs for our people in East Ridge.” — East Ridge Mayor Brian Williams
“Chattanooga is already a world-class destination for tourism and business, and this new growth will only add to the city’s attractive destinations and economy.” — Gov. Bill Lee
