JOHNSON CITY, Tenn. (WJHL) — A development company with experience redeveloping historic buildings has signed an agreement marking the first step toward it purchasing the former John Sevier Hotel and Johnson City's Downtown Centre.

“We’re hoping to see a lovely boutique hotel rising in that building down the road," Johnson City Development Authority (JCDA) Chairman Jack Simpson told News Channel 11.

Lansing Melbourne Group (LMG) has signed a "term sheet" with the JCDA that will allow it to conduct due diligence on the century-old hotel and the adjacent Downtown Centre and parking garage. Current plans call for restoring the former hotel to its "historic charm" while introducing retail shops, event spaces, fine dining, rooftop bar access with scenic views, and a modern 136-room boutique h

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