The College Station city council unanimously approved spending $7.3 million dollars from the general fund to buy the former Macy’s store and adjoining parking.
The vote followed recommendations from city manager Bryan Woods and chief economic development officer Natalie Ruiz to acquire the building to control future development of the property.
The council heard from two opponents during a public hearing. That was followed by comments in support from council members Linda Harvell and Dennis Maloney.
Woods said the city appraised the value of the land, depending on its eventual use, of between $6.5 and $11.5 million dollars.
That is after the current owner bought the property last January for $3.5 million.
the city’s purchase includes the two story, 103,000 square foot building and 7.64 acres of land.
Click below to hear comments from the August 25, 2022 College Station city council meeting.