A year after it was first announced to be demolished, Amanda Knight Hall has been sold to and will be restored by Mountain Classic Real Estate Inc., the group announced Monday.
The investment group is known for its restoration of historical commercial and multifamily properties, according to a press release from the company.
Its plans for Amanda Knight Hall are under development.
“We believe this is one of the most iconic historic residential properties near campus and are grateful to BYU for their vision in recognizing the significance of this building in our historical cultural journal,” David Phipps, the CEO of Mountain Classic Real Estate Inc. said in a press release. “MCRE focuses on high design developments in the Intermountain West, and our position as the largest renovator of historic buildings in the state stems from the incredible architecture, construction, and design that was put into these properties in the early and mid-1900s. We are just very grateful to be able to be involved in bringing the soul back into many of these incredible buildings.”
The real estate group restored the Historic Clift and Felt buildings in downtown Salt Lake City and restored Park Manor Apartments, according to the press release.
The building, located at 800 N. University Ave. in Provo, was built in 1939 as a women’s dormitory for Brigham Young University. It later housed missionaries before becoming an overflow space.
It had been listed on the Provo Landmarks Commission local historical register without the university’s approval and was removed from it in 2002.
The building was originally going to be demolished with a replica built in its place, but was placed on the market by BYU in an attempt to find a buyer who was interested in working with the Provo City Landmarks Commission to repurpose and preserve the building.
The decision to demolish was met by anger from neighbors and Preservation Utah, which argued that a replica would miss the building’s layers of memories and history.
A disclosure statement for the property lists that the building is seismically rated as very poor and that a renovation would require the addition of an elevator and an elevator shaft, that the roof is failing and has asbestos, that exterior walls are not insulated and that windows need to replaced. The electrical system would also need to be upgraded, new wiring would be required and the boiler needs to be replaced, along with the sewer main and hot water piping.
The statement estimates that a renovation preserving the building’s exterior facade and allowing the interior to be functional to be at $10 million.
BYU referred to the statement from Mountain Classic Real Estate when asked Monday if it had a comment on the sale.