The City of Owensboro approved a real estate purchase agreement Tuesday for a piece of property located at 118 East Veterans Blvd. With the City owning two adjacent properties, commissioners hope the location can become a successful redevelopment project in the near future.
According to City Manager Nate Pagan, the city rented the property for several years before being approached by the owners about buying it.
“We own the two parcels adjacent to the east, so it makes sense for us to purchase this property,” Pagan said. “With the purchase, we will own approximately half of the front edge along Veterans Boulevard in the block between Daviess and Allen streets, so the area could make a redevelopment project at some point in the future as well.”
Mayor Tom Watson called the purchase of property an “excellent buy.”
