BRISTOL, Tenn. (WJHL) — Big plans for a residential and retail development in Bristol, Tennessee are officially back to square one after the city council voted to abandon the deal on Tuesday.
In January 2020, plans were in place for a development called ‘TheSeven14.’
The City entered into an agreement with a developer to demolish buildings on Shelby Street and construct a new building that featured residential and commercial development. The plan also called for specific time-sensitive benchmarks.
On Tuesday, the City said the contract was breached in September 2021, resulting in the vote to pay the developer $400,000 to cover the cost of work at the site.
Ownership of the land on Shelby Street now goes back to the city’s Industrial Development Board with hopes of another type of development at the site in the future.