Fidelity Trust Company

What Fidelity Trust Company does

FTC Development LLC, formerly known as Fidelity Trust Company, is a Chattanooga, Tennessee-based commercial real estate development firm founded in 1912 by John F. Crabtree and now operating under fourth-generation family leadership under President & CEO J. Matthew McGauley. The company provides full-spectrum project management and development services—including site acquisition, design, construction management, and adaptive reuse—serving both its own portfolio companies and third-party clients on a fee basis. Over its 100+ year history, FTC has developed more than 1,000,000 square feet of commercial real estate spanning industrial, multifamily, traditional office, tech/creative office, medical office/clinic, restaurant, showroom, fitness, event space, education, special purpose, and retail spaces.

The firm's core technical differentiator is expertise in sustainable, adaptive reuse development, including delivery of the first LEED-Certified Building in Chattanooga: the Gold-Level USGBC-certified Hamilton Hotel (River Street Architecture) redevelopment, featuring a green roof, living wall, climbing wall, salvaged materials, bamboo millwork, translucent polycarbonate walls, high-efficiency HVAC with CO2 sensors, and bike storage. Notable flagship features also include the longest continuous whiteboard in Chattanooga (75+ feet), the longest interior LED light in the city (150+ linear feet, McConnell Block), and a Chattanooga-first "disco restroom" with automated Toto toilets and Sonos sound. The McConnell Block renovation—a 130-year-old building—houses FTC's own 3,500 sq ft offices on heart pine floors with reclaimed accents.

FTC's business model combines three revenue streams: (1) fee-based development services to portfolio companies and third parties, (2) build-to-suit development where clients commit to occupying the space upon completion (e.g., OpenTable, Whiteboard, CodeScience), and (3) speculative development without pre-committed tenants that is then leased (e.g., H&D Corporation). The go-to-market is sales-led and B2B, with the company targeting enterprise and mid-market clients across technology, professional services, healthcare, government, and retail/hospitality sectors in the Chattanooga region. Customer acquisition is driven by the firm's century-long reputation, portfolio showcasing on its website (ftc.build), client testimonials, and direct referrals through named leadership contacts.

Name

Fidelity Trust Company

Legal name

FTC Development LLC

Website

https://ftc.build

Company type

Private

Founded year

1912

Operating status

Operating

Headcount range

11–50 employees

Short description

FTC Development LLC, formerly Fidelity Trust Company, is a fourth-generation, Chattanooga-based commercial real estate firm founded in 1912, providing full-spectrum project management, build-to-suit, and speculative development services to enterprise and mid-market clients seeking unique and sustainable spaces.

Ownership category

akta.pro rank

Headquarters

HQ city

Chattanooga

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Fee-based Development Services: FTC provides full spectrum project management and development services to portfolio companies and third parties on a fee basis. This includes finding new space, building acquisition, redevelopment, and construction management.
2. Build-to-Suit Development: Custom development of office spaces for specific clients (e.g., OpenTable, Whiteboard) where the client commits to occupying the space upon completion.
3. Speculative Development: Development of commercial spaces without pre-committed tenants, then leasing to suitable businesses (e.g., H&D Corporation space, River Street Architecture).

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Fidelity Trust Company (FTC Development LLC) is Chattanooga's oldest commercial real estate firm, providing full spectrum project management and development services. The company specializes in unique and sustainable commercial real estate projects including build-to-suit, speculative development, and adaptive reuse of historic buildings across industrial, multifamily, tech/creative office, medical office, retail, restaurant, and special purpose property types.

Product overview

FTC Development LLC (formerly Fidelity Trust Company) is Chattanooga's oldest real estate firm founded in 1912, offering full spectrum commercial real estate development services. The company specializes in developing unique and sustainable commercial real estate across multiple property types including tech/creative office, traditional office, medical office, retail, restaurant, and special purpose spaces. Their portfolio includes notable projects such as the LEED-Certified River Street Architecture building, Whiteboard tech offices, CodeScience headquarters, and the renovation of the historic McConnell Block building. The company provides project management, development, and construction services to their portfolio companies and third parties on a fee basis.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Real Estate Development Full spectrum project management and development services for commercial real estate including industrial, multifamily, traditional office, tech/creative office, medical office/clinic, restaurant, showroom, fitness, event space, education, special purpose and retail spaces. Services are provided to portfolio companies and third parties on a fee basis.
• Tech/Creative Office Development Specialized development of tech and creative office spaces in Chattanooga's Innovation District, including build-to-suit and speculative developments for technology companies such as Whiteboard, OpenTable, CodeScience, and H&D Corporation.
• Historic Building Renovation and Adaptive Reuse Renovation and adaptive reuse of historic buildings including LEED-certified projects and historic preservation with modern elements, such as the Hamilton Hotel redevelopment (Gold Level LEED-Certified) and the 130-year-old McConnell Block building renovation.
• Build-to-Suit Development Services Custom build-to-suit office development for specific clients in the 701 Building and other locations, where the client commits to occupying the space upon completion. Examples include the OpenTable product development office and Whiteboard 6,750 sq ft tech office.
• Speculative Development and Leasing Development of commercial spaces without pre-committed tenants, then leasing to suitable businesses. Example includes the speculatively developed H&D Corporation tech office space in the Innovation District.
• Medical Office Development (Oasis Park) Multi-phase medical office park development on 14 acres in North Chattanooga including Sports Barn North (43,000 sq ft), a medical office building (30,000 sq ft), and a future MOB (40,000 sq ft). Tenants include Sumida Orthopedics, Associates in Ear Nose & Throat, Standifer Orthodontics, and Belva Dentistry.

Quantifiable outcome

• First LEED-Certified Building in Chattanooga (Gold Level)
• +4 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• KnollminorStrategic or Co-development PartnerKnoll furniture used in FTC development projects including the McConnell Block building renovation for FTC's own offices and CodeScience project. Knoll is a major furniture brand represented by clients like CBI.
• DIRTTminorStrategic or Co-development PartnerDIRTT (Doing It Right This Time) is a furniture and interiors solutions brand represented by CBI, one of FTC's showroom/learning center projects.
• United States Green Building Council (USGBC)coreStrategic or Co-development PartnerUSGBC awarded Gold Level LEED Certification for the Hamilton Hotel (River Street Architecture) project - the first LEED-Certified Building in Chattanooga.
• Cornerstones, Inc.minorStrategic or Co-development PartnerCornerstones, Inc. awarded the Sophia Long Award for Excellence in Historical Renovation to FTC for the Hamilton Hotel project.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• JLL: Global commercial real estate services firm offering project management, development advisory, and sustainability consulting that overlaps with FTC's fee-based services. Represents competitive pressure from incumbent platforms moving into secondary markets like Chattanooga.
• CBRE: Global commercial real estate services and investment firm offering project management and LEED/sustainability advisory that competes directly with FTC's third-party fee services. Represents institutional competition for mid-market CRE mandates in secondary markets.
• Carter (formerly Carter & Associates): Atlanta-based, long-established commercial real estate developer with deep Southeast roots dating back decades. Highly comparable to FTC in terms of longevity and regional focus on office and mixed-use projects, though operating at larger scale.
• Cousins Properties: Atlanta-based REIT specializing in Class A office towers across the Southeast, including Sun Belt growth markets. Comparable to FTC in office-development focus and Sun Belt geographic exposure, though at materially larger and public-company scale.

Direct peers

• Branch Properties: Atlanta-based regional mixed-use commercial real estate developer with a focus on walkable, mixed-use projects across the Southeast. Comparable to FTC in size, geography, and tenant mix, particularly around tech-office and innovation-district style projects.
• Holder Properties: Atlanta-based regional commercial real estate developer specializing in office, mixed-use, and healthcare projects in the Southeast. Comparable scale and regional scope to FTC, with a similar mix of build-to-suit and speculative development.
• Ackerman & Co: Atlanta-based, privately held commercial real estate developer of comparable size, focused on office, industrial, and mixed-use projects across the Southeast. Directly comparable to FTC as a mid-sized, regional CRE firm with similar ownership profile and project types.

Regional players

• Wood Partners: Atlanta-based national multifamily developer with a strong Southeast regional presence. Comparable to FTC as a regional CRE operator building diverse product types in growing Sun Belt metros, though focused on residential rather than office.
• Crescent Communities: Charlotte-based regional real estate developer operating across the Southeast with a portfolio spanning commercial, multifamily, and master-planned communities. Comparable to FTC in regional scope and diversification across property types, though at meaningfully larger scale.
• RangeWater Real Estate: Atlanta-headquartered multifamily and build-to-rent developer operating across the Southeast. Comparable as a Southeast regional CRE developer serving growing secondary markets like Chattanooga, though focused on residential rather than commercial.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ftc-development
• Xx.com/mattmcgauleycha
• Facebookfacebook.com/184077921736893

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fidelity Trust Company