The University of Tennessee at Knoxville today announced the proposed sale of the historic Eugenia Williams house and property to the Aslan Foundation, according to a system news release.
The 10,800-square-foot house at 4848 Lyons View Pike was designed by renowned architect John Fanz Staub. Ms. Williams left the house and the 24-acre property on the Tennessee River to the University of Tennessee after her death in 1998.
"The Aslan Foundation's purchase of the Eugenia Williams House from the University of Tennessee aligns with the foundation's mission of preserving beauty, advancing livability and supporting cultural assets in the Knoxville area," said Andrea Bailey, executive director of the foundation. "In particular, historic preservation is a key funding priority for the foundation, and we are pleased to be a part of ensuring that this building and its grounds are preserved for future public use and appreciation.
Bailey said the Eugenia Williams House "is a regional and national treasure, containing important architectural elements and reflecting the role of one of Knoxville's prominent families. We plan to immediately evaluate and stabilize the house, in addition to hiring an architect to develop an historic preservations plan. Over the long term, we will work closely with the community to determine its highest and best use."
Eugenia Williams home / Photo provided by the Knoxville News SentinelThe sale is pending Oct. 31 approval by the State Building Commission's Executive Subcommittee.
In June, the University of Tennessee filed a court action to permit the sale of the property. After that, the university worked with the State of Tennessee Real Estate Asset Management office to solicit sealed bids for the purchase that were subject to a preservation easement on the house.
The Aslan Foundation submitted the strongest bid at $4.025 million with provisions to preserve the house and retain the natural beauty of the property.
"We are excited to have a buyer that will not only preserve, but restore the home and property," Interim UT President Randy Boyd said. "This is a win-win for our community and for lower-income students wanting to achieve their dream of attending UT."
Sale proceeds will be used to establish the UT Knoxville Promise Dr. David Hitt Williams Endowment, in honor of Eugenia Williams' father.
UT Promise is a last-dollar scholarship program that will guarantee free tuition and fees for students with a family household income of under $50,000 and after other financial aid is received (such as Pell Grants, HOPE Scholarship, or other institutional scholarships). The program will welcome its first class in fall 2020.