The eleven-story Chattanooga Bank building, built in 1927, containing over 119,000 square feet, was designed originally to house the Chattanooga Savings Bank. It was soon modified in 1929 when the business was absorbed by First National Bank. Most of the building was then devoted to commercial office space and small shops. The building was added to the National Register of Historic Places in 1980. The building will be rehabilitated into a 159 key full-service hotel, which is a Watermark property, along with two condominium units on the uppermost floor. The hotel will offer valet parking, one on-site casual dining option, up to three retail storefronts, a business center, wireless internet, business traveler amenities, and a concierge.