Tuesday, August 21, 2012

Abandoned TDOT property rumored to be sold to developer Holladay Properties

A few months ago, the state of Tennessee decided to put the former TDOT site on the real estate market. The collection of dilapidated buildings that have been rotting at 2200 Charlotte Avenue have been an eyesore for some time and have attracted some negative attention in the local media. Since the property has been on the market, the state has seen some "very poor" bids, but there is word today that a developer may be close to purchasing one of the tracts.

Indiana based Holladay Properties is rumored to be offering $1 million for the tract that contains the buildings, which is less than half of the appraised value of $2.5 million. The adjacent tracts, which are across 23rd Avenue are parking lots and are not part of the transaction. The state hopes that whatever Holladay develops will help increase the value of the unsold tracts. There is no word on what Holladay has planned for the site, who is currently renovating two warehouses in the Nashville area.

For more details on the story, read it at the Nashville Post here.

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