An effort to restore an historic East Tennessee inn is moving forward.
Tuesday, Family Pride Corporation signed paperwork to close the deal to buy the historic Alexander Inn in Oak Ridge, and turn it into an assisted living center for seniors.
The developer hopes to begin construction in the next 30 to 45 days.
The project is estimated to cost about $5.8 million dollars.
The city agreed to give the developer a tax break as an incentive to restore and develop the former hotel.