Copper Cellar on Cumberland Avenue has closed after 48 years on the Strip.

The local restaurant chain sold its location at 1807 Cumberland Ave. on March 20 for $3.66 million to Chicago-based development group Core Spaces. The developer is partnering with Schenk Realty on a $530 million project to build multiple apartment buildings and a parking garage adjacent to the University of Tennessee at Knoxville campus.

Rick Laney, a spokesperson for Copper Cellar, confirmed the closure. The restaurant closed after brunch on June 4. Only the Cumberland Avenue location closed. The other Copper Cellar locations remain open.

A message to customers appears on Copper Cellar's website when you enter it.

"Thank you, Knoxville for nearly 50 years of support at out Cumberland location!" the message reads. "Don't worry, you can still dine with us at our Kingston Pike location in West Knoxville. Continuing to serve you is our distinct pleasure."

What's next for the former Copper Cellar location?

With the property sold, Core Spaces plans to build a new apartment building at the location. The restaurant building will be torn down, but construction won't start until 2024 according to an application filed with the city.

The apartment building will be one of four to be built by Core Spaces. The other three will be located at the 1900 block of Cumberland Avenue, where University Liquors and Jimmy John's were located; 2001 Cumberland Ave., where the Shell Station was located; and 2000 Cumberland Ave., where Panera Bread was located. The parking garage will be constructed north of the 1900 block of Cumberland Avenue between 19th and 20th streets.

Keenan Thomas reports for the Knox News business growth and development team. You can reach him by email at keenan.thomas@knoxnews.com.

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This article originally appeared on Knoxville News Sentinel: Copper Cellar closes on Cumberland to make way for Strip projects