(ST. JOSEPH, Mo.) The 118-year-old building has been home to many businesses, but in two years, it may be your new pad.
On Monday, the city council also passed a bill to turn the former historic American Electric building downtown into lofts.
City officials say this will give a new purpose, to an old building.
"It is huge not only for downtown, but for the entire community," Downtown Partnership Executive Director Rhabecca Boerkircher said. "Any time we can save one of these historic buildings it's a benefit to our community because it is our heritage."
The revamp of the space would offer 144 new lofts for downtown St. Joseph and a short strip of open retail space on the ground floor.
The move is a step into the future without leaving St. Joseph's history in the past.
"We have buildings no one else in the world has," Boerkircher said. "It's very important to save as many of these structures as we can because that reflects who we are as a community."
Collaborators on the project say it won't cost tax payers a dime.
"The city is able to take a portion of the new taxes created from the project after the rehab is complete to help reimburse the developer," Planning and Communication Development Director Clint Thompson said. "This type of project does not affect the tax payer at all."
The project will take up to two years to complete and will cost around $30 million.
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