KINGSTON, TN--(Marketwired - May 28, 2015) - Tennessee Valley Authority (TVA) has retained J.P. King Auction Company to sell its Kingston, TN, waterfront properties at public auction. The auction will be held Saturday, July 25, 2015, at 11:00 a.m. EST, on-site rain or shine.
The TVA Board approved the auction company's proposal to conduct a portfolio auction of 62 properties, up to 19 waterfront properties, four water view homes and 39 waterfront lots. The properties will be sold without reserve at absolute auction, meaning all properties will be sold to the highest bidders, regardless of price.
Following the 2008 Kingston ash spill, TVA committed to restoring the area to as good as or better than it was before the spill. The first two years of the recovery project required 24/7 operation of heavy equipment on land and in the Emory River. The sounds of the heavy equipment and the lights needed to support night time activities were audible and visible to nearby property owners. Therefore, TVA purchased these properties along Emory River Road.
As of December 2014, all major construction associated with the recovery and restoration of the Swan Pond area is complete. The landfill is lined and closed and Emory River has returned to pre-spill conditions.
As part of TVA's fulfilling its commitment to restore the area to as good as or better than it was before, TVA plans to auction the homes to restore the area to a neighborhood community.
J.P. King Auction Company is an experienced, national property auction firm headquartered in Alabama. The auction company will include local real estate brokers in the process. In June, detailed information about the auction and properties will be available at www.jpking.com.
In 1991, J. P. King Auction Company pioneered the use of auctions for luxury real estate and non-distressed clients. Under the current leadership of the fourth generation of the King family, the firm has sold and closed over $2 billion in property through 850 auction events. As an independent premier real estate auction firm, J. P. King's portfolio of property sales includes over a million acres of land, high dollar recreational ranches and farms, and luxury waterfront and vacation homes located throughout the United States. www.jpking.com
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Contact Information:
Contact:
Stacy Smith, APR
P: 205-969-4844
E: stacyasmith@charter.net
