City Council approves sale of Sibley Building
Posted at: 09/19/2012 10:26 PM
City Council unanimously voted Wednesday night to move forward with the sale of the historic Sibley Building to Winn Development Corporation.
The old department store will be renovated and turned into a building which will house educations, commercial, retail and residential properties.
Mayor Tom Richards says Winn has a track record of restoring historic buildings for multiple uses.
Winn, a Boston company, paid $5-million for the 12-story building. The cost of a complete 10-year renovation has been estimated at $100-million to $150-million.