OAK HILL, WV (LOOTPRESS) – The former BB&T bank building in downtown Oak Hill, currently owned by the city, is under a purchase agreement, with the sale expected to close later this month.
Former Interim City Manager Tyler Bragg provided an update on the property during a recent Oak Hill City Council meeting.
Bragg and newly appointed City Manager Anthony Treadway shared responsibilities for presenting agenda items during the meeting, with Bragg providing updates on matters he had previously been handling.
“You all know, and of course we’ve, we’ve notified you that the building is under a purchase contract, a purchase agreement currently,” Bragg told council.
“As it stands, that purchase agreement is set to close by October the 25th, or thereabouts. And so, we’re working actively moving through that.”
According to Bragg, the prospective buyer has been working through the due diligence process as the city moves toward completing the sale.
The former BB&T building is located at 101 East Main Street in downtown Oak Hill, at the intersection of Main Street and Central Avenue.
The City of Oak Hill purchased the building in 2022 for $675,000 with plans to renovate it into a new City Hall.
However, the purchase became a source of controversy over the cost of the property and the additional expenses associated with renovating it.
The city eventually abandoned plans to convert the building into City Hall and moved toward selling the property.
In 2024, City Council approved a resolution authorizing the city’s Building Commission to handle the sale.
Bragg said that authorization remains in place, meaning council is not expected to take additional action to complete the transaction.
“At this time, we’re not aware of any further action from council,” Bragg said.
“So, unless we find something else that would require an action of council, we don’t need anything at this time.”
Bragg said the city is continuing to work toward finalizing the transaction before the end of October.
“And if all goes well, we expect to close on that building before the end of the month,” Bragg said.
The prospective buyer and the agreed-upon purchase price were not disclosed during the update.
If completed, the sale would bring an end to the city’s ownership of the former bank building more than four years after its purchase.
