Ten dollars will typically buy you a couple things at the store, but here in Roanoke, it can also buy you a 20,000-square-foot property. Monday night, the Roanoke City Council approved a deal to sell the old public health building on 8th Street for just $10. It will be sold to prominent developer Ed Walker, who plans to transform the building into a combination of office, retail, and living space. City leaders say it does them no good to have a building sitting empty, And the tax revenues and other development this project will create is worth the cheap price tag.
"We think that even though we forego some potential market value on the front end, we're better suited for the long term," says Brian Townsend, assistant city manager.
As part of the deal, Walker will have to meet certain deadlines for the start and end of construction.