KNOXVILLE, Tenn. (WATE) — With construction of a $500-million housing and retail development near the University of Tennessee continues, a longtime Cumberland Avenue restaurant closed its doors over the weekend.

Nearly 50 years after its establishment in 1975, the beloved Copper Cellar has closed. In a message posted online and on their sign, the popular bar and grill thanked customers and encouraged them to visit their Kingston Pike location.

“Continue to follow us on social media for specials and exciting updates to come,” the message posted online added.

The building housing Copper Cellar was sold to developers earlier this year as the massive retail and housing development dubbed the “Hub on Campus” moves forward.

Existing buildings on the block bounded by Cumberland, White Avenue, 19th Street and 20th Street will be demolished. Plans call for 800 apartments, 30,000 square feet of retail space and a 10-story parking garage.

Four 8- to 10-story buildings will replace other longtime businesses like Stefanos Pizza, University Liquors, Cook Out and Mellow Mushroom.

The development will eventually house more than 2,100 residents and its garage which will be built off White Avenue will accommodate about 2,100 vehicles.

Cumberland Avenue has been transforming over the past several years. The road configuration was drastically changed with a $25 million streetscape project that was completed in 2017, which the Knoxville Regional Transportation Planning Organization credits for reducing traffic crashes and stimulating private investment.