Cornerstones

Endangered Properties:

• Gifted the $1.5 million Central Block Building to the Greater Chattanooga United Way. Built in 1883 and listed on the National Register of Historic Places, the three-story Central Block Building will undergo Certified Historic Rehabilitation. This building is 20,000 square foot brick Italianate building is located in he heart of the Central Business District and will have a major impact on the revitalization of Market Street. Renovation to begin in April 2002. Total investment: $3 million.

• Formerly the home of Burchay’s Furriers, this building located at 821 Market Street will soon become one of the center city’s first live/work spaces. Local architect Garnet Chapin has sub-leased the property from Cornerstones while ownership of the building remains with Chattanooga Land Company. After extensive negotiation, only 1,500 square foot will remain in the 4,800 square foot building; but Cornerstones did save the limestone Richardsonian Romanesque limestone façade and will invest $100,000 in the renovation of the remaining building. Renovations began in February 2002 and should be completed by Fall 2002. Total Investment: $200,000.

• The City of Chattanooga is in the processing of gifting a building to Cornerstones located in the 300 block of Market Street. This building was originally scheduled for total demolition for the Fourth Street Boulevard project, but instead only half of the building will be lost. This turn-of-the-century two-story building will be 20’ wide by 60’ deep and will become a corner property. Cornerstones will design and reconstruct the new southern façade while preparing a Request For Proposals that will advertise the availability of this historic property by the end of July 2002.

• 25% (5) structures of the 20 that are on our Endangered Properties list have been successful saved. Cornerstones has worked closely and frequently with each property owner to insure that historic preservation approach and methodology were in compliance with the federal programs. Other historic properties that are under renovation and/or a certified historic rehabilitation:

• • • Colonial Hotel (10^th Street)
    • Loveman’s Building (8^th and Market Street) Renovation $12 mill
    • Chattanooga Plow Power House (Chestnut Street)

Development (Public Awareness and Education):

• In order to educate the public on the issues of Historic Preservation, Cornerstones sponsored a public awareness campaign in April 2001 With the Chattanooga School for the Arts and Sciences. The school-wide event involved the entire student body in the national poster contest that illustrated the need to retain, maintain and use historic urban schools. Cornerstones continues to engage in on-going meetings with the Hamilton County School Board relative to maintenance issues relative to CSAS.

• Cornerstones continues it’s close working relationship with RiverCity Company. We physically share office space. Strategically, this allows us as historic preservationists to have conversations on the front-end of projects, giving us the opportunity to be pro-active and therefore more effective than reactive. We are working closely with the planning and design process for the redevelopment of the 700 block of Market Street. In January 2002, the Chattanooga City Council passed a resolution that allows for a property tax freeze of 12 years to historic property and 14 years to historic property that undergoes a certified historic rehabilitation. This is a huge step forward in creating local economic incentives to encourage that vacant abandoned historic property be adaptively reused.

• Continue to share information with numerous property owners across the city relative to the federal historic tax credit program, façade easement programs and availability of potential funding sources and technical assistance.

• Co-sponsored the "Details of Distinction" in the Chattanooga On the Move publication of Chattanooga State. This contest encouraged the public to observe their architectural and historical built environment more closely and has created a foundation for teaching the importance of historic preservation.

• While a federal grant to the National Park Service (requesting $65,000) was denied, Cornerstones co-sponsorship of this concept will continue with an extensive "Marking the City" campaign identifying historic events, historic buildings (lost and saved). This will add historic context to the city for not only the tourists but to the local residents. This will add cultural texture to the downtown will taking the Chattanooga story in an interesting and innovative way. The approach included the Chattanooga Regional History Museum, Friends of the Park (Chattanooga/ Chickamauga National Battlefield) and the Allied Arts.

• Cornerstones co-sponsored the Tennessee Preservation Trust (TPT), the new state-wide preservation organization, first annual fund-raising "Toast to Tennessee" held in Chattanooga in November 2001. This event incorporated a tour of historic properties in diverse stages of preservation in the Southside neighborhood. The National Trust for Historic Preservation has earmarked Tennessee as one of the last remaining states in need of a preservation advocacy organization. Recognizing the importance in having a voice, Cornerstones is supportive of the organization. TPT is comprised of representatives from across the state, Jeffery Boehm is the current President and Rob Taylor is an advisor to the board. Chattanooga will sponsor the 2002 "Toast to Tennessee" this November.

• Cornerstones was involved in the "Tours of Downtown Living" held in the fall of 2001 and he spring of 2002 in which new construction and the adaptive reuse of historic buildings were showcased. This event was a combination of efforts between RiverCity Company, the Chattanooga Downtown Partnership and Cornerstones and is an annual event.