Chattanooga Riverfront May Have A Buyer Following Bankruptcy
In what has been slowly dilapidating into a floating eyesore on the Chattanooga riverfront, the barge owned by reputed businessman B. Allen Casey may finally find a new buyer. A recent report from an attorney claims that a nationally-connected real estate company may be hired on to expand the search for new money.
Casey, the owner of the run-down barge, was the original developer of the Chattanooga Choo Choo, and had saved the old Terminal Station by redeveloping it into what is now a well-known Tennessee landmark. His foray into creating a floating New Orleans-style restaurant and bar, however, has met with much less success.
Since first bringing in the barge from Pittsburgh in 2009, Casey has received backlash from multiple local sources. River City Co., the nonprofit downtown redevelopment group in Chattanooga, has spoken critically against the decrepit piece of property, saying that the city has been spending years, as well as millions of dollars, to beautify the waterfront. The property, they claim, is blocking multiple acres of land that are ripe for development.
Additionally, many investors are claiming they were defrauded about the piece of land, and they have their attorneys searching for multiple way to have the barge removed.
Casey’s bankruptcy earlier this year had initially saved him from a takeover by investors, but at this point, it’s looking like the city is ready to be done with the old barge.
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