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City Buys GSA Building, Proposes Art Center

ST. LOUIS-The city is purchasing the 45-year-old building for $7.5 million. City officials have proposed using the building as an arts and education space.

By Dana Dubriwny | Updated on August 02, 2006

ST. LOUIS-The City of St. Louis has reached an agreement with the US General Services Administration (GSA) to purchase the Abram Federal Building at 1520 Market St. for $7.5 million. Calling the building “underutilized for some time” GSA’s newly appointed administrator Lurita Doan says the building was no longer needed in the federal portfolio.

Following a meeting with Doan, Mayor Francis Slay and comptroller Darlene Green made GSA an official offer to purchase the building. The city has been planning to purchase the building for four years and in May put forth a $750,000 deposit. To make the deal work, the city is selling 99-year leases on two parking lots next to the Robert A. Young Federal Building at Tucker Boulevard and Spruce Street for $2.7 million. GSA has also agreed to credit $1 million in rent toward the purchase price.

With the deal closed, the GSA headquarters is required to conduct a final review and present the city’s offer to the Senate Committee on Homeland Security and Governmental Affairs and the House Committee on Governmental Reform. Once Congress agrees on the conditions, GSA will transfer title to the city.

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