From the News-Gazette this morning:
Urbana seeking developers for vacant downtown block
Urbana’s hoping the third time’s the charm for a property it’s owned since 2011.
Urbana issued a request for proposals Thursday for the block north of its City Building and across from the federal courthouse, previously occupied by Urbana True Tires.
The city bought the tire shop’s property at 202 S. Vine St. in 2011 for $400,000, completing its purchase of the block, and continued to lease it until 2014. Altogether, the city spent about $950,000 to buy the properties on that block.
After two previous plans fell through, Urbana is now hoping developers can turn that block into a residential mixed-use, multi-story residential or high-density townhome development, though all proposals will be considered.
Full article here.
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