TVA looking to sell downtown Knoxville towers, move HQ across street
By Ed Marcum, Knoxville News Sentinel
The Knoxville skyline pictured Nov. 4, 2014, showing TVA Towers, the Crowne Plaza Hotel, and the Sterchi Lofts. (PAUL EFIRD/NEWS SENTINEL)
KNOXVILLE (News Sentinel) -
TVA is looking into selling its twin towers in downtown Knoxville and moving its headquarters into a new facility to be built on adjacent property, the federal utility announced late Monday.
The move would involve finding a developer who would demolish an office and parking garage that TVA owns on Summer Place just west of the towers and replace it with a new structure to TVA's specifications, Gail Rymer, TVA director of public relations, said Monday.
"There is only about a 40 percent occupancy of these towers and from a planning and cost perspective, it would make sense to have a building that is smaller and better-suited to our needs," she said.
TVA President and CEO Bill Johnson said in a statement that such a move would also benefit downtown.