MEMPHIS, Tenn. — Change is on the horizon for a 16-story building on the South Bluffs.
Commercial Advisors-Capital Market, the company marketing the Horizon Building, confirmed it’s under contract to be sold.
The recession knocked the $70 million tower off its feet more than five years ago.
The building has been sitting empty and unfinished. It went into foreclosure, and was auctioned off for $17 million two years ago.
While the sale of the building isn’t final, people who live in the area are hoping it will bring additional money to downtown Memphis.
“It’s almost like well what’s in there. Is it haunted? It’s sort of spooky to see it unused for all of these years,” Jim Hollifield, who lives in Downtown Memphis, said. “So if it comes back to life, that’s a good thing.”
The potential buyer is being kept under wraps, but the Memphis Business Journal reports the sale is expected to close in a few weeks.
