For many years the Red Coach Inn was a source of conflict for residents of the surrounding East Town neighborhood. This hotel that once served businessmen traveling to and from the nearby textile mills had become a source of crime and instability in this historic neighborhood. In early 2006 the Rock Hill Economic Development Corporation (RHEDC) purchased the property from BB&T. RHEDC entered into a Memorandum of Understanding with the City of Rock Hill in which the City agreed to demolish and maintain the property until the RHEDC could find a developer for the property. The City completed demolition of the structure, and abated all environmental issues on the site in Fall 2006. The City then issued a request for proposals from developers for the redevelopment of the property.

Currently, RHEDC and the City are in the process of negotiating the sale of this property for redevelopment.