Seven proposals received for AJ Building

UPDATE: Knox County has received seven proposals to buy and redevelop the historic Andrew Johnson Building.

The proposals, opened after the submittal deadline passed at 2 p.m. today, are from entities located in Tennessee, Ohio and Indiana.

Three of the seven proposals received were based in Knoxville. 

“The amount of interest shown in redeveloping the AJ Building is exciting, and it’s an indication that this historic building can be preserved and put to better use by the private sector,” said Knox County Mayor Tim Burchett.

An evaluation committee will begin reviewing the proposals. The process may take eight to 10 weeks, according to Knox County Procurement staff.

Efforts to identify a new location for the Knox County Schools’ administrative offices is on-going.

Proposals were received by the following entities:

BET Investments, Inc. (Columbus, OH)
BNA Associates, LLC (Nashville)
Crescent Bend Development & Safe Harbor Development (Knoxville)
Development Services Group (Memphis)
LHP Capital LLC & Conversion Properties, Inc. (Knoxville)
Sun Development & Management Corporation (Indianapolis, IN)
Terminus Real Estate & Legacy Capital Partners, LLC (Knoxville)

ORIGINAL STORY: Proposals to buy and redevelop Knox County's Andrew Johnson Building face a Thursday afternoon deadline.

Any interest in acquiring the historic former hotel on the south end of Gay Street are due by 2 p.m. Thursday to the county's Procurement Department.

After the deadline falls, those who are interested in the property will become public. Their pitches, however, won't see daylight until they're ready to go to Knox County Commission, according to county spokesman Michael Grider.

Related: Deadline for AJ Building proposals extended

Mayor Tim Burchett has been interested in getting the building back onto the tax roles for several years. Downtown is thriving - a perfect time to put the A.J. Building, as it's known, up for sale.

Currently, it serves as headquarters for Knox County Schools.

 In July 2015, the county put out a Request for Information, or RFI, to see what companies at the time might've been interested in buying the building. Seven groups expressed interest and proposed a variety of uses.

This spring Knox County put out a Request for Proposals, or RFP,  and formally took the first steps to determine the future of the building. 

Burchett said he was open to all ideas for the building, whether for residential condos or apartments, other business ventures or redeveloping the property as a hotel. 

Knox County Schools will have to move if someone buys the building and redevelops it.

© 2017 WBIR.COM


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