CHATTANOOGA, Tenn. — A new kind of housing is coming to Chattanooga, and the developer behind it is no stranger to the area.
Valentina Estates, Tennessee’s first micro-home community, is now underway in East Chattanooga.
Former pro basketball player Rashad Jones-Jennings is breaking ground on Valentina Estates – a 12 million dollar micro-home community with 42-modern homes priced under 300 hundred thousand dollars
“I grew up in the west side, and I live that, and I don’t think that model works. You putting everybody that’s in survival mode in one area.”
Jones-Jennings says each home is designed to offer affordable, sustainable living, at prices under three-hundred-thousand-dollars.
“I know how it is working with a buyer who’s ready to go, done everything right, and their approval amount is not conducive to, you know, a nice, a nice, nice quality house for that price point. You know, you got somebody with a $250,000 pre approval these days.”
Officials with the project say construction will begin in the next couple of months.
Jones-Jennings adds the development is all about bringing modern, affordable housing to a part of Chattanooga that’s been overlooked for decades. He notes the project is about revitalization, and not gentrification.
“Gentrification is, if I was paraphrasing, I say, we come in, tear down grandma’s house, and we build a lot of stuff that, you know, people can’t afford in that area, and it loses the fabric it you it loses the character of the neighborhood.” Said Jones-Jennings. “But revitalization is when we go in and we improve the existing infrastructure”
Neighbors in the area say, while they’re concerned about traffic, they’re excited to see new growth come to their community.
“We actually gathered the neighborhood up when we first found out about it, and we met with the developer, Rashad, and we, we really talked about what it would actually do for for the community.”
However, not everyone thinks the development is a good idea. We heard from many viewers on social media who say the project will only increase prices and congestion.
Jones-Jennings says its more than just real estate; its about planting roots for the next generation.
“I want to, I wanted to see the people around me win as well.”
Jones-Jennings added that families could move in as early as next year.
This rendering below shows what the micro-homes will look like once completed.