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December 5, 2012

Downtown building purchased

Formerly occupied by Thomasville Furniture

The Times-Tribune

CORBIN — By Becky Killian/Editor

The downtown Corbin building that formerly housed Thomasville Furniture has been sold.

The deal closed Tuesday and the buyer is Greater Corbin Housing Inc., according to Dora Mobley, who serves as secretary for the nonprofit.

While final plans are still being formulated for the building, tentative plans would put apartments in the upper level of the building and have a retail store on the ground level.

Greater Corbin Housing Inc. had made an offer on the building in 2010 that was declined, Mobley said. The nonprofit recently made another offer that was accepted.

Mobley declined to disclose the selling price.

The nonprofit, which was formed in 2005 by the Corbin Housing Authority, aims to develop affordable housing. It is the group which acquired Corbin East, the former school building located along Master Street.  

Mobley said $4.5 million in private money is funding the work to the former school. Asbestos has been removed and work is underway to remodel it.

The building is expected to be complete in 18 months and it will contain 32 apartments. Rent will be income-based.

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