‘Thunder’ Thornton seeks new houses in Riverview
Chattanooga real estate developer John “Thunder” Thornton wants to break up his 10-acre estate in Riverview so five more houses can go on the property.
“We’ve been working on a plan to do this for a couple of years,” he said. “It’s a big piece of property for inside Riverview.”
Thornton is seeking approval on Monday from planners to develop the site into a private estate-lot type community, according to the Chattanooga-Hamilton County Regional Planning Agency.
Thornton said he has owned the 12 Rivervista Drive property in North Chattanooga since 1993. He lives in a 22,908-square-foot residence, according to the Hamilton County Assessor of Property. The county appraises the total value of the building and land at more than $5.8 million.
Thornton said plans are to not cut the property into quarter-acre or even half-acre lots.
“They’ll be large estate lots,” he said, noting that three lots are some 2 acres each.
The developer of the Jasper Highlands mountaintop community in Marion County, Tenn., said most of the lots are larger than those surrounding his property.
He said the houses would be “in keeping with other large estate homes” in the area. Thornton said there is no immediate timetable to develop the tract.
Conversations with neighbors about his plans have been positive, the developer said.
“I don’t seen any reasons for objections…, but I’d be happy to listen and answer,” Thornton said.
The planning commission staff said that an adjacent tract received a special exemption permit for a planned unit development for six dwellings on 4.9 acres in 2007.
The planning staff recommended approval of Thornton’s request to the Chattanooga-Hamilton County Regional Planning Commission. But the staff recommended conditions that the parcel be split into no more than six lots and there be only one single-family dwelling per lot. The staff report added that guest houses are not permitted.
The staff said Thornton plans to put covenants in place to protect natural features and views.
Thonton said plans are to develop the property “responsibly and accretive” and that the large homes would complement the neighborhood.
“I always thought it was the best piece of property in the whole Chattanooga area,” he said.
Thornton started his own company, American Rug Craftsmen, and sold it in 1993 to Mohawk Industries. In 1994, he founded American Weavers, a Calhoun, Ga.-based manufacturer of afghan throw blankets and tabletop products. He later sold his majority interest in that company to a consortium, led by the Stephens Group of Little Rock, Ark.
Thornton began developing high-end residential properties in Jackson Hole, Wyo., in 1991 and, a decade ago, he acquired Jasper Mountain. That development is ultimately expected to include just over 1,500 home sites. The total value of the development, once built out, is likely to top $600 million.