Investment Highlights

Turnkey Asset Following $1.3 Million Renovation: Grove at Hickory Valley offers an investor 181 turnkey units with minimal deferred maintenance. The property has been fully renovated, including: 

  • $693,287 on Interiors - Flooring, Appliances, Granite Countertops, Backsplash, Lighting Package, Ceiling Fans, Bathroom Vanity, & Plumbing Fixtures
  • $642,863 on Exteriors - Clubhouse Renovation, Fitness Equipment, Pool Grounds, Parking Lot, Gate, Compactor, Landscaping, Paint, Model Unit, Signage, Entryway, & Hallways

High Quality Amenities Package: The property offers its tenants a beautiful amenities package with ample green space to add additional amenities. Current amenities include:

  • Refreshing Swimming Pool
  • 24-Hour Fitness Center
  • Covered Pavilion w/ Grilling Station
  • Fenced-In Dog Park
  • On-Site Clothes Care Center
  • Resident Lounge w/ Free Wi-Fi
  • Automatic Coffee Barista

Convenient Access to Hamilton Place Mall: Tenants of Grove at Hickory Valley are within two miles of Hamilton Place Mall, a 1.17 million SF shopping center anchored by Dillard’s, Belk, JCPenney, & Dick’s Sporting Goods. Additional nearby retail includes Academy Sports, Kirkland’s, DSW, Ross, Lowe’s, Target, Kohl’s, Bed Bath & Beyond, Publix, HomeGoods, Michaels, and many more.

Major Volkswagen Investment: In November 2019, Volkswagen broke ground on an $800 million electric vehicle plant, which is expected to create 1,000 jobs. Over 12,400 jobs are provided to the local economy through Volkswagen and its supplier network. 

Chattanooga’s Rapid Growth: Chattanooga’s median household income has been growing rapidly, ranking 6th out of 382 metropolitan areas in recent years.  A study by Manpower Group ranked Chattanooga as the country’s hiring capital leading into 2020, indicating the strength of the local economy.

Recent Economic Activity: Arrive Logistics, a Top 50 freight brokerage firm, announced a $25 million expansion, of which $3.6 million will be invested in Chattanooga to add 500 jobs. In 2019, the Chattanooga Red Wolves soccer team announced a $125 million investment to develop a mixed-use site including a brand-new soccer stadium, housing, retail space, restaurants, hotels, and 1,000+ jobs. This development will be less than 5 miles from Grove at Hickory Valley.

Convenient Access to Chattanooga’s Largest Employers: Located 9 miles east of Downtown Chattanooga via I-24, Grove at Hickory Valley offers a convenient commute to Chattanooga’s diverse employment base:

  • Erlanger Health System - 8,459 jobs
  • BlueCross BlueShield of Tennessee - 5,254 jobs
  • Tennessee Valley Authority - 3,502 jobs
  • CHI Memorial - 3,271 jobs
  • McKee Foods - 3,100 jobs
  • Unum - 2,800 jobs
  • Volkswagen Chattanooga - 2,498 jobs
  • Amazon - 2,044 jobs
  • Cigna - 1,350 jobs
  • The University of Tennessee - Chattanooga - 1,291 jobs

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