KNOXVILLE (WATE) – Demolition has begun at the site of the old Baptist Hospital in South Knoxville.
Contractors began this week knocking down the first of five buildings on the site.
Work began on the interior of the building in January, and now crews have moved on to the outside of the building, demolishing walls and other exterior features.
The site was sold in December to Riverwalk Investors of Augusta, Ga. for a total of $6,250,000.
The property will be part of a more than $150 million redevelopment project, bringing in a hotel, apartments and retail.
The first building may take a few weeks to completely demolish. Officials hope to have all five buildings knocked down by June.
The project is being paid for partially by a tax-increment financing (TIF) transaction, which will direct $22 million in new city and county property taxes over a 20-year period toward the project.