The Empire Hotel might finally have a buyer.

Downtown Salisbury Inc. and the city of Salisbury announced they will provide details about the purchase and sale agreement for the Empire Hotel at a press conference on Friday. The conference will be on the second floor of the Gateway Building, at 204 E. Innes St., at 10 a.m.

The buyer or developer will be at the event.

Paula Bohland, executive director of Downtown Salisbury Inc., declined to share details today.

The hotel, at 220 S. Main St., was opened in 1859 and renovated in 1907. It closed in 1963 after 104 years of business.

DSI bought the hotel on South Main Street from the Ragsdale family in 2007 for $1 million with financial help from multiple local banks.

The 7,500 square foot building has a tax value of about $1.02 million.

As of Thursday morning, no deed has been filed at the Rowan County Register of Deeds Office.