JOHNSON CITY, Tenn. (WJHL) – A new owner for the John Sevier Building in Johnson City is expected next week.
The Johnson City Development Authority met Friday morning and say they are expecting the purchase deal to be finalized in just days.
The JCDA used a $4.6 million loan to make the purchase of the John Sevier Center possible.
Within 90 days of the purchase being finalized, HUD will come in and do their own inspection.
The building is expected to be developed into a retail and living space.