The project to turn the former Thomasville Furniture building in downtown Corbin into apartments and commercial space may soon be in private hands.
Officials with the Greater Corbin Housing Authority confirmed Tuesday that a contract is pending to sell the building at the corner of Main and Second Street. The contract is pending ratification by the housing authority board, which is expected to occur during its regular meeting Thursday, and the completion of due diligence by the prospective buyer.
Barring any problems, the sale is expected to be finalized in January.
Corbin Mayor Willard McBurney, who serves on the board, said at the board meeting in September, that the members gave director Sam McCoy authorization to accept a contract for the property as long as it was for the asking price of $155,000.
“We determined at that meeting what we wanted for it,” McBurney said when asked about the price.
The name of the buyer has not been released, but McBurney said it is his understanding that the new owner has the same vision that it be a combination of commercial and residential space.
“That building has been a real key piece of downtown development because of what it represents,” said Corbin Downtown Director Andy Salmons.
“It is going to be what we need downtown,” Salmons said. “It will fit perfectly with the development that has been going on.”
Within the last several years, a new pottery store has opened on North Main Street, Freeman, Childers and Howard attorneys have renovated and moved their offices into the former Cumberland Valley National Bank Building, The Depot Restaurant has come under new ownership. Salmons renovated and turned the former Cottongim Drug Store into You and Me, Coffee and Tea, Chef Richard DiMaggio moved Basil’s Restaurant to Main Street and Hoskins, Hill and Hill attorneys renovated and moved into the building at the corner of Fifth and Main streets.
“This is one of our last big vacancies,” Salmons said of the Thomasville Furniture building.