After 15 years of confusion, heartache and uncertainty, the wait is finally over for the people of Knoxville. During a joint meeting between the Marion County Board of Supervisors and the Knoxville City Council, a memorandum of agreement was approved by both entities to acquire the Old VA Campus from General Services Administration, The State Historic Preservation Office and the federal government. Following the acquisition a press conference was held at the Grand Theater at which time Knoxville Mayor Brian Hatch spoke about what lies ahead for the property. Mayor Hatch says the city and county will immediately begin planning the demolition and development of the property that will be a multi phase project spanning over multiple years.

According to the agreement, the two oldest buildings on the property are required to be marketed for a period of 60 days. If no interest is shown for the buildings following the 60 day period the City of Knoxville and Marion County will gain authority over the buildings and can decide on how to proceed. Marion County Supervisor Mark Raymie also spoke during the press conference about the need for workforce housing throughout the county and how the acquisition of the property will assist that need. He says according to a recent development study, the property could allow for up to 697 mixed housing units which could potentially bring in 1,558 people. Raymie says he expects the evaluation of the property to come in at approximately $144 million if fully developed. According to Raymie and Mayor Hatch the city and county will gain access to the property over the next few weeks at which time the next phase of planning will begin.