Chattanooga Times Free Press: [1]

The Chattanooga firm of Kinsey, Probasco, Hays has agreed to purchase a former Alcoa Inc. aluminum plant near Alcoa, Tenn., and redevelop the site into a downtown for the city.

"In the next six to nine months we should be in a position to begin development," said Jon Kinsey, former Chattanooga mayor and president of Kinsey, Probasco, Hays. "It is right at the entrance to the Knoxville airport and it is surrounded by two significant highways, so we feel it is an opportunity to really do something world class for that area and provide a new downtown for the city of Alcoa, which does not have one presently."

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Mr. Kinsey said he expects the property will become a mixed-use facility and hold residential, commercial and office space.

The company has been involved in a couple of controversial Knoxville developments, including Market Square and the Candy Factory condos, although both are generally considered successes now.