Investment Highlights
Ridgemont at Stringers Ridge represents TruAmerica’s first investment in the Chattanooga MSA and third overall in the state of Tennessee. Located in Chattanooga just above the NorthShore neighborhood, the property boasts tremendous access to job and amenity centers sitting approximately 5 minutes north of Downtown Chattanooga.
Ridgemont at Stringers Ridge’s location blends an outdoor lifestyle with business acumen, given its unique access to Stringer’s Ridge Park, a 92 acre of park with a trail head onsite, as well as direct access to NorthShore (under 1.5 mi.) and downtown Chattanooga (2.5 mi.). The employment base in the northern suburbs has increased substantially over the past decade, fostered significantly by the “Renaissance on the River” revitalization project, which developed ample commercial space in the area. Furthermore, the Property boasts quick access to four interstate highways, including I-24 and I-75, which offer convenient access to other major MSAs, namely Nashville and Atlanta, as well as the top employers in the area, including Amazon and Volkswagen.
Property Highlights
The 226-unit property was built in1988 and features one-, two, and three-bedroom floorplans. All floorplans at the property have porches or balconies as well as walk-in closets.
Prior ownership completed partial renovations in 194 homes leaving the remaining 32 homes in classic condition. TruAmerica plans to renovate all units at the property to a cohesive scope to include white shaker cabinet fronts, stainless steel appliances, quartz countertops, vinyl flooring, a tile backsplash in the kitchen, and upgraded fixtures and hardware. Additionally, prior ownership completed extensive exterior work and amenity upgrades which TruAmerica plans to complement with additional enhancements to the dog park, the fitness center, the clubhouse, as well as adding indoor bike storage.
Community Amenities & Unit Amenities
• Swimming pool
• Leasing office with resident clubhouse
• Fitness center
• Picnic and grilling areas
• Dog Park
• Stringer’s Ridge trailhead direct access
• Package lockers
