(WMC-TV) - The Nineteenth Century Club may have another chance at dodging demolition as of Wednesday.
A judge gave preservationists 15 days to put up a $50,000 bond. That would put a total pot of $100,000 in place if a new buyer fails to step forward.
Before court Wednesday, preservationists learned a buyer, who wanted to preserve the Nineteenth Century Club mansion, did not put a down payment on the deal.
"The investor in Nashville decided he hadn't had enough time to do due diligence, and so he pretty much pulled the financing," said June West with Memphis Heritage.
The Union Group wants to turn the site into a strip mall, but the project is on hold until the outcome of the case. The plaintiff's attorney argued most costs would have occurred despite the delay caused by the trial.
"Few of the expenses, if any, have been affected by any delay," said attorney Steve Mulroy.
The Nineteenth Century Club attorney says damages are mounting.
"Nobody if any means in this community has stepped forward," said attorney Art Quinn.
The judge then ruled the plaintiffs must pay a $50,000 bond by November 1 or he would allow the demolition.
Meanwhile, the plaintiffs already filed an appeal with The Appellate Court.
"I'm pleased with the judge's ruling because it allows our appeal to go forward, and we've got another shot at saving this historic building," said former club president Teresa Hurst.
The Union Group cannot move forward with demolition of the property for now. The Children's Museum that received a nearly half million dollar donation from the sale of the building - cannot spend that money until it is all over.
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