TVA sells downtown building for $1.3 million - WRCBtv.com | Chattanooga News, Weather & Sports

TVA sells downtown building for $1.3 million

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A man walks past the former Tennessee American Water Co. building at Broad Street and 11th Street. Photo by Doug Strickland /Times Free Press A man walks past the former Tennessee American Water Co. building at Broad Street and 11th Street. Photo by Doug Strickland /Times Free Press
CHATTANOOGA, TN (WRCB) -

The Tennessee Valley Authority sold a staple to Chattanooga's downtown horizon today - because officials say - the building is no longer needed.

Dillard Development company bought the TVA’s building on Broad Street for more than $1.3 million dollars. It was formerly the Tennessee American Water building.

TVA bought the property in 2012 for a mail facility, but recently decided the unused space would better serve the community in other hands.

The public auction was held this morning, with the starting bid at $840,000 dollars.
        
There’s currently no word on how Dillard Development will use the offices.

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