Chattanooga breaks ground on first development under new PILOT housing program

Officials with the city of Chattanooga broke ground on a new affordable housing development, the city’s first financed through the revamped Affordable Housing Payment in Lieu of Taxes (PILOT) Program. The riverfront development at 702 Manufacturers Road will include 42 affordable homes alongside luxury apartments, allowing families earning around $45,000 annually to live in the community. Under the program, developers will receive tax abatements for keeping units affordable for at least 15 years.