The Knoxville City Council set a public hearing date for the sale of the property at 502 E Main St. at their most recent meeting.

The winning bid was from Vermeer Group for $2,500, who plans to build housing on the property, subject to a development agreement. There were several higher bids, but Knoxville City Manager Aaron Adams tells KNIA/KRLS News a developer willing to build housing is critical to the city because while it was the low bid during the bidding process, the amount of money they are willing to invest in the property was far larger than anyone else’s commitment, and that through study and communication with residents, housing is far and away one of Knoxville’s top priorities.

Adams also said those with questions about the sale of the property can attend the public hearing to ask and hear from the council. The public hearing will be at the next city council meeting on Monday, July 2nd, which begins at 6:15pm.