Press Release | January 2024

Cambridge Square Development Team Announces Second Commercial Phase 

Chattanooga, Tenn. — BP Construction (BP), the developer for Cambridge Square, has announced a second phase of commercial development that is slated for approximately acres directly across Lee Highway from their existing mixed-use community. The second phase had been named Cambridge Village and is intended to complement the existing uses within Cambridge Square.

Cambridge Square is a mixed-use development that began in 2013. Since that time, the development team has constructed 16 buildings, secured approximately 45 commercial tenants, and activated a large public square that is free and open to the public for events such as live music and local festivals. From inception, the development team remained heavily focused on recruitment of locally owned business looking for expansion opportunities in the exponentially growing Ooltewah market. The community also has a residential district with more than 50 residences with a second phase of lots scheduled for delivery in the next 18 months. 

Cambridge Village, located within the city limits of Collegedale, will again focus on retail and commercial uses that are not currently located in the market. Interested prospects can purchase raw land for development, or work with BP on lease opportunities or building sales. The overall development will be governed by a commercial owners association that will be responsible for common parcels and design reviews.

“Our objective with Cambridge Square was to design and build a town-center style community that would attract business owners who saw the potential of the Ooltewah market, and were willing to take a risk with us early on,” said Jim Cheney, BP’s chief marketing officer.  “With a lot of hard work, some good luck, and the consistent support of our tenants and patrons, we’ve seen some really astonishing growth in just over a decade.

“Our goal across the street in Cambridge Village is to attract operators who are interested in wellness, hospitality, medical, grocery and really anything that promotes daily trips and increases the patronage along this corridor,” Cheney said. “We’ve finalized general concept plans and are ready to start talking to interested parties. Given the success of Cambridge Square, and the absence of available land on Lee Highway, we are confident that we’re going to attract the highest and best use for the community.”

The initial scope of work slated for Cambridge Village will be the installation of sewer and other utilities along with some basic road and signage infrastructure. The property configuration allows for larger scale retail as well as providing designated, stand-alone out-parcels located directly on Lee Highway. At this time, the developers have created a masterplan that enables a great deal of flexibility to cast the widest net in terms of prospective operators.

“Right now, if you are searching for land east of I-75 within the Lee Highway corridor, your only option for a new build is this property,” Cheney said. “For that reason, we are not rushing our marketing efforts. Through the Cambridge Square project, we learned a lot about the demand in this area, and the importance of securing brands that address need and foster customer loyalty. Prospects who locate in Cambridge Village will be serving a resident base who appreciates convenience and community engagement.”