Montgomery dabbling in development

The former president of a Chattanooga banking firm has put on his developer's hat.

Lloyd "Monty" Montgomery III is part of a group that will develop an 8,074-square foot medical office in Loudon County, to be occupied by University Health System.

Montgomery said Tuesday that the facility will be located off of Highway 72, in Loudon, and that the other developers are Bob Sinclair and Scott Castleberry, of R.H. Sinclair Construction Company.

Montgomery said the facility will be used for primary care medicine and physical therapy, and that construction is slated to start on Monday. The developer said his son, Sperry Van Ness/R.M. Moore advisor Lloyd Montgomery IV, represented the buyers on the land purchase.

The senior Montgomery was president and chief operating officer of First Security Group, Inc., but was terminated in April.