Oak Ridge Today

Loudon company wants to use Alexander Inn as assisted living center

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A Loudon company has proposed converting the historic but run-down Alexander Inn in Oak Ridge into a $6 million, 60-unit assisted living senior center.

Family Pride Corp. has requested a 90 percent, 10-year tax property tax break on the three-acre site. Oak Ridge Industrial Development Board members will be briefed on the proposal Monday and consider recommending it to City Council during a special Oct. 11 meeting.

Family Pride would work with InSite Development Corp. of Knoxville to redevelop the two-story hotel, which was built during World War II as part of the top-secret Manhattan Project.

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Developer could request tax incentives at Alexander Inn

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An unnamed business could request tax incentives to redevelop the historic but run-down Alexander Inn, city officials said Friday.

The Oak Ridge Industrial Development Board could hear a few brief summary of the proposal during a meeting this afternoon, although few details are publicly available. The potential owner or developer could request tax increment financing, or TIF, which uses new property tax revenues generated at a site to pay for improvements.

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