The metropolis of Burnet inked a offer to acquire the aged Bealls constructing on Polk Street for its new Metropolis Corridor.
Burnet Town Manager David Vaughn explained the metropolis closed on the constructing Wednesday, June 16, and now owns it.
“We paid $1 million for the building and foresee that it will price a further $3 (million)-$4 million in renovation fees,” he explained in an e mail.
Vaughn included that the next stage is to hire an architect for the transform style and design and then make a decision on the project’s building administration.
The city began on the lookout for a new Metropolis Corridor room previously in June. The present-day facility, 1001 Buchanan Push, endured sizeable damage in the course of the February winter storms. The city has leased the house considering that 2001.
Officers considered locating a developing to renovate or setting up 1 from the ground up. Making a new Town Hall would most likely price tag $6 million to $8 million, Vaughn said.
On June 11, the Town Council authorized a resolution authorizing the town to expend up to $1 million on the former Bealls, which is close to 16,000 square ft.
The metropolis can tap a mix of financial loans and excess cash reserves to fund the task, which could acquire up to 18 months to entire.
In 2020, Bealls’ guardian firm, Phase Stores, filed for Chapter 11 bankruptcy, which led to it closing a amount of its suppliers, which includes these in Burnet and Marble Falls.