The Standard Knitting Mill building in the Parkridge area of Knoxville could be getting a new lease on life.

The City of Knoxville announced the vacant 435,667-square-foot building has been purchased by WRS Inc.

WRS is currently redeveloping the Underground Atlanta shopping and entertainment district, as well as building malls, retail centers and mixed-use projects across the Southeast.

According to a release, "The building, constructed in the 1940s, is the only remaining structure associated with Standard Knitting Mill. At one time, the operation employed more than 4,000 Knoxvillians and produced 1 million garments a week."

The city is expected to make an announcement revealing more details about plans for the building on December 12.

Chime in on how you would like to see the facility used in the comments below.

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