ENDLESS opportunity
615 acres
overlooking the town of South Pittsburg and the Tennessee River
ENDLESS opportunity
615 acres
overlooking the town of South Pittsburg and the Tennessee River
INTRODUCTION
The small city of South Pittsburg, Tennessee is a quiet gem nestled in a valley, on the edge of the Tennessee River. The sprawling mountains that surround the area are home to luxury mountain communities including Jasper Highlands just 2 miles north, River Gorge 12 miles east, and Black Creek Chattanooga 25 miles east. Each are beautifully developed planned communities with most homesites ranging from 1/4 acre – 2 acres and selling for $100-700K per lot.
Opportunities abound for the development of 615 acres overlooking the quaint town and the Tennessee River, also home to Peyton Manning and Andy Roddick’s newly-built Sweeten Cove Golf Club (images shown below of the course and the co-owner partners). The town members have wonderful spirit, love the area where they live, and welcome opportunities to improve and expand. In fact, they actively sought out and successfully earned the designation of TN River Town, a wonderful opportunity to participate in the development of commerce and recreation along the 652-mile Tennessee River.
Financially, there are many perks. The property is located in an Opportunity Zone, granting tax incentives to developers. The state of Tennessee is ranked #1 for business climate, with low business tax rates and NO personal income tax. The dramatic shift to remote work has driven unprecedented demand in suburban, small town and rural homes. An easy drive to Chattanooga, Huntsville, Nashville, Birmingham, Knoxville and Atlanta, makes it a viable remote work environment for over 2 million residents from those areas alone.
South Pittsburg City Hall
Overview of the area
Marked by the yellow star, South Pittsburg is nestled at the center of 6 major metropolitan areas, along the Tennessee River, at the intersection of Tennessee, Alabama and Georgia
A Google maps view of the property, west-northwest of South Pittsburg, which is located along the vertical middle, and the Tennessee River adjacent to the city on the east side
history: 615 contiguous acres
In 2006, a group of family investors sought a long-term investment property. 481 acres of mountainside land overlooking the town of South Pittsburg, TN and the Tennessee River were purchased by the newly formed Happy Hollow Vista, LLC, referencing Happy Hollow Valley: www.topozone.com/tennessee/marion-tn/valley/happy-hollow-101. Additional lot purchases followed, to provide road access from Patton School Rd, and then to create a large contiguous property suitable for a wide variety of development opportunities.
The property has existing road access across over 1 mile of northern borders and also at Patton School Road on the upper western section. Many areas of the property enjoy beautiful views of the Tennessee River and the mountains.
The image below displays the topography by slope range and shows the total acres for each.
Topographic line map with property in green: CLICK then enter owner Happy Hollow
532 Acres are at Buildable Slope levels of <20%
- 164 acres are <10% slope, considered "easy" to build.
- 277 acres are 10-15%, where costs are still reasonable for build.
- 91 acres are 15-20%, more expensive by still buildable.
- 83 acres are not easily built upon but instead provide amazing landscapes, with natural sceneries and borders for the surrounding areas.
Detailed Property Data: https://assessment.cot.tn.gov/RE_Assessment/ParcelListI.aspx (county Marion)
LoopNet MLS Data:
https://www.loopnet.com/Listing/0-S-Pittsburg-Mountain-Rd-South-Pittsburg-TN/30055009/
Tennessee Property Viewer with property in blue
Water and Sewer abut the property at the northeastern corner of the property, coming from the town.
Topographic map with outline of South Pittsburg city limits, showing “Happy Hollow”
Tennessee rivertown
Opportunity zone
South Pittsburg’s location within a federally designated Opportunity Zone https://oz.tnecd.com/advantagespresents presents great tax savings opportunities to developers.
Zone designations were certified in the Spring of 2018 and will remain in effect until December 31, 2028. Any qualifying investment made through a qualifying Opportunity Fund into a qualifying Opportunity Zone will be eligible for the applicable tax benefits through that date.
To the right is a large map in orange showing the areas covered by the Opportunity Zone.
Commerce Secretary Wilbur Ross announced “Three Tennessee communities will receive Opportunity Zone grants”:
“Baxter, South Pittsburg and Mountain City will receive $5.1 million in federal aid to invest in infrastructure and jobs.”
-Wilbur Ross
“The City of South Pittsburg will use their $1.9 million grant to build a liquid natural gas storage and re-gasification system to provide uninterrupted energy during peak periods of demand to two major companies. The grants will leverage $31 million being invested by Valmont Industries, and $41 million by Mueller Co. The two companies will create a combined 450 new jobs and retain more than 200 others.”
town of south pittsburg
The County and Town are highly receptive to development that embraces the values and contributes to the goals of the community.
Self-formed community groups have achieved great success with revitalization efforts and are actively engaged in further community improvement projects.
A Great Place to Live
The citizens of South Pittsburg exhibit tremendous pride for their community, seen most prominently through their outpouring of volunteer time at the annual Cornbread Festival. That sense of pride is expanding most recently with the efforts to develop and promote South Pittsburg as a RiverTown.
View from Happy Hollow Vista
Cost of Living
Compared to the rest of the country, South Pittsburg's cost of living is 26.7% lower than the U.S. average. https://www.bestplaces.net/city/tennessee/south_pittsburg
National Cornbread Festival
“This event put South Pittsburg ‘on the map’. Its 25-year history spans five different mayoral changes. Some of those city leaders were extremely proud of the event and a couple swung the other way. The ‘will of the people’ prevailed as did the growth and success of the event. The 3,300 population of South Pittsburg swells to an average of 23,500 on festival weekend. It takes upwards of 3,000 volunteers to put on the event. Over the last 24 years more than 1.2 million dollars has been raised and turned back into the community. The pride and camaraderie which has resulted cannot be measured.”
TEnnessee HAs the #1 BEST Business climate in the U.S.
“It’s no accident that many of the most respected businesses in the world call Tennessee home. Our pro-business regulatory environment, sound fiscal management and some of the lowest tax burdens in the nation have allowed us to make significant investments in public education, workforce development and infrastructure improvements.”
https://tnecd.com/advantages/business-climate/
Business Advantages include:
- #1 Lowest state debt per capita in the country
- NO State income tax on personal incomes and salaries
- LOW Business taxes
value propositions
Proximities to cities, towns, venues and corporate locales:
- Chattanooga 30 miles
- Huntsville 72 miles
- Nashville 108 miles
- Birmingham 133 miles
- Knoxville 140 miles
- Atlanta, GA 146 miles
Local and nearby notable businesses:
- Lodge Cast Iron: South Pittsburg, TN
- Sweetens Cove Golf Course: South Pittsburg, TN
- 3 out of 14 North American Google Data Centers www.google.com/about/datacenters/locations/:
Google Data Center: Jackson County, AL 30 miles
Google Data Center: Douglas County, AL 149 miles
Google Data Center Montgomery County, TN 163 miles
- Volkswagen: Chattanooga, TN (2,500 employees) www.theverge.com/2020/8/21/21395629/volkswagen-id4-electric-suv-production-germany
- Tennessee Valley Authority : Chattanooga, TN (3,500 employees)
- McKee Foods Corp (Little Debbie snacks): Chattanooga, TN (3,100 employees)
- Unum supplemental insurance: Chattanooga (2,800 employees serves 193,000 employers and 36M individuals in the U.S. and UK)
- Smoky Mountains: 175 miles
Nearby Google Data Centers