Negotiations for downtown building sales underway

The Georgetown City Council approved the real estate contract for the sale of two downtown buildings at their meeting on Oct. 9. The proposal for the historic Post Office at 113 E. Eighth St. includes a ballroom, restaurant, and bar. The proposal for the Municipal Court/City Council Chambers at 101 E. Seventh St. includes a restaurant and micro-distillery.

Earlier this year, the City of Georgetown undertook a process to solicit proposals from potential buyers for three city-owned buildings: the historic Post Office, the Municipal Court/City Council Chambers, and the Visitors Center at 103 W. Seventh St.

On May 22, City Council gave direction to negotiate with City Post Partnership for the sale of 113 E. Eight St. and to negotiate with Loyal Spirits Distilling Company / URBAN Eat. Drink for the sale of 101 E. Seventh St. City Council did not proceed to negotiate with any proposer for 103 W. Seventh St. The Council approved the proposed terms for the sale of two downtown buildings at their meeting on Aug. 7.

Tentatively, the City hopes to close on the properties in early-2019 in advance of moving to new facilities west of downtown at Eighth and Martin Luther King streets.

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