The Budgetel Inn has been sold and may soon go under the wrecking ball and replaced by retail stores.

According to the Chattanooga Times Free Press, the business went into foreclosure, some three years after authorities shut the extended stay motel down, citing it as a public nuisance.

The news of sale came to light on Tuesday during a court hearing. 

According to the TFP, last summer Budgetel owners applied for a zoning permit to turn the extended stay motel  into condos and apartments. The City of East Ridge took no action on that request.

Officials said after the motel went into foreclosure it was purchased by Exit One LLC. The business entity developed Jordan Crossing across Interstate 75.

Hamilton County District Attorney Coty Wamp told the TFP that she intends to lift all reopening requirements that was implemented on the business, but first must draft documents in order to do so.

According to the TFP, the next hearing for Budgetel was scheduled for July 15. The issue is expected to be resolved at that time.