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Hamilton County leases its old jail to Urban Story Ventures for $60M–$80M to build Jailhouse Studios, a creative hub with a data center, job creation, and student support.
Hamilton County commissioners approved a 35-year lease to convert the vacant 1976-era county jail in Chattanooga into Jailhouse Studios, a music, film, and production facility with a data center.
Developer Urban Story Ventures will invest $60 million to $80 million, starting with an annual payment of $375,000 that increases by 3% yearly.
The lease includes a county exit clause, a 12,000-square-foot cap on the data center, and a commitment to allocate 1.5% of annual profits to support local students in creative fields.
The project aims to revitalize downtown, create hundreds of jobs, and repurpose a building that cost $24,000 annually to maintain.
Officials say it aligns with growing industry interest in mid-sized cities and supports workforce development through partnerships with local schools and organizations.
El condado de Hamilton alquila su vieja cárcel a Urban Story Ventures por $60M$80M para construir Jailhouse Studios, un centro creativo con un centro de datos, creación de empleos y apoyo estudiantil.