The delapidated Parkway Towers building on Chattanooga’s Southside has been sold, and its new owner is talking to developers about potential reuses of the site.
The building, adjacent to Finley Stadium, was sold to Parkway Towers Development Inc. for $418,500, according to the Hamilton County Register of Deeds office.
Local businessman Maurice Kadosh, who owns Parkway Towers Development, said he does not have any immediate plans. But he said he is waiting to hear from developers about possible uses.
“We bought the building for speculation,” said Mr. Kadosh, who added that he is open to re-selling the building if he gets a good offer.
The building owned by Gary Fillers has had a controversial history.
The Stadium Corp., which oversaw the construction of Finley Stadium, in 1997 sought to condemn Parkway Towers by eminent domain to raze the building and create parking.
Mr. Fillers successfully fought the condemnation. In 1998, the Tennessee Court of Appeals reversed a local judge’s ruling that the Stadium Corp. could seize the property, according to newspaper archives.
The Stadium Corp. had originally offered Mr. Fillers $77,000 for the property.
Mr. Fillers, who said he bought the building in 1986, declined further comment on the sale.
In May 2005 a teenager was paralyzed after falling from the building while trying to photograph the Chattanooga skyline, according to newspaper accounts.
A $12 million lawsuit was filed in August 2005, and in January 2007 the lawsuit was settled, but the case was sealed and the details of the lawsuit were unavailable.