It also is located half a block east of where developer Jim Cohen, who built The Marcum apartments and retail development downtown, is planning to build a 50-plus apartment complex. It’s about a block from where the new Billy Yank’s restaurant and bar is being installed.
The availability of parking for possible future construction and development was an attractive part of the acquisition, the city said.
“We’re still evaluating what we want to do with the building itself, but we will be making a determination soon with City Council,” said Aaron Hufford, chief of staff to City Manager Joshua Smith. “But we don’t have a formal plan for the building yet.”
The property purchase “is one of those that we hope we can use to spur some additional redevelopment in the area, since there’s a lot of activity that’s going to be taking place on that corner, some of the adjacent corners,” Hufford said.
“Parking can be tricky during certain times of the year in that area,” he said. “It’ll certainly help any development in that area.”
Among other businesses nearby are the Village Parlor ice cream shop that has new apartments upstairs, which all are leased, and the Two Little Buds florist.
According to a report Hufford prepared for council, Nicole Stephenson, the owner, bought 30 N. D St. in April 2003, with the latest purchase price on the property listed at $118,000. She also bought the parking lot at 24 N. D St. for $12,000 in July 2015.
“The city has negotiated the sale of both properties for $192,500,” he wrote. “The property is located along the Main Street Business Corridor, and purchase of these parcels would allow control of this property for redevelopment.”
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