With a firm submitting an almost $28 million proposal to build new housing for residents of the John Sevier Center, Johnson City officials are doing their due diligence before committing to the project, which would still be at least a few years down the line.
The Johnson City Development Authority on Wednesday approved a contract with the National Development Council, a New York nonprofit, to review the financial model for the development plan.
LHP Capital, a real estate development firm in Knoxville, submitted plans to construct about 145 units of housing for seniors and residents with disabilities. LHP also serves as the property management company for the John Sevier Center and took over day-to-day operations in April. The company would eventually own the new housing if itâs allowed to finance and build it.