New plans for ALCOA West Plant property announced

By Rick Laney
of The Daily Times Staff

ALCOA announced Thursday morning that it has signed a letter of intent with a development group to redevelop the former ALCOA West Plant property. The developers believe construction could begin within the next year.

The 350-acre ALCOA West Plant property is next to the baseball and softball fields near Alcoa High School.

The letter of intent, approved by ALCOA’s corporate offices, allows Chattanooga-based developers Kinsey Probasco Hays, and Denver-based International Risk Group (IRG) to perform a site analysis and recommend suitable developments for the property.

International Risk Group says it acquires “environmentally impaired” real estate and assumes the associated environmental liability.

On its Web site, the company says its market focus is “industrial and governmental (former military and BRAC sites) real estate with complex transactional, environmental or legal issues that hinder economic development.

“We acquire real estate with a current contaminated market value of $10 million or less and liability between $1 million and $300 million. Our team of multidimensional professionals provides unique, creative solutions for the complex issues that may scuttle your development or transaction.

“We get deals done. It’s that simple.”

Kinsey Probasco Hays is the developer that did Knoxville’s Sunsphere, World’s Fair Park and Market Square, as well as numerous projects in Memphis and Chattanooga. Company executives say this is an opportunity for Alcoa to get a real “downtown.”

The West Plant, which opened in 1920, was ALCOA’s first fabrication facility. The plant had a diverse product line and manufactured aluminum pie plates, siding and aluminum for patio furniture and many other specialized aluminum products.
The West Plant was decommissioned in 1989 and demolished in the late 1990s.

ALCOA spokeswoman Melissa Copelan told The Daily Times that ALCOA’s involvement in the development will be “minimal to none.”

“The beneficiary of this redevelopment is the community,” Coplean said. “We see it as a complement to the new Pellissippi Research and Development Center.”

According to Copelan, details of the plan — including whether ALCOA would sell or lease the property — are still under discussion.

John Kinsey, a principal at Kinsey Probasco Hays who served as the mayor of Chattanooga from 1997 to 2001, told The Daily Times he sees this redevelopment as a “once-in-a-generation” opportunity.

“With a property of this size so close to population, schools, businesses and the airport — this site deserves nothing less than a world-class development.
“With 350 acres, that’s a lot of land, and there are many attributes with this property that you rarely see.

“I see this as an opportunity to create a downtown for Alcoa.

“I would hope that we could have construction under way within the first year — but there’s a lot of work to be done to provide access to the site.

“We have been working to get to this point for about a year.”

Both ALCOA and Kinsey said they see the West Plant redevelopment as a complement to the planned Pellissippi Research Center on the old Luther Jackson Farm, located at Pellissippi Parkway and Old Knoxville Highway, not a competitor.