Commonwealth Properties have confirmed Monday that the company signed papers on the former theater building at 23 S. Main Street, as well as the property at 1719 S. Main Street.
For months Commonwealth has had the option to purchase the property for $2.44 million as part of a restoration and building redevelopment plan that will create office and retail space along with 10 luxury apartments. Wempner's School of Dance also has the option to remain under their lease terms as a tenant on the third floor.
A $40,000 grant from the WEDC was received to support the project as well.
President of Commonwealth Companies, Louie A. Lange III, said, "construction is to begin shortly and Commonwealth is very thankful for all the support it has received and continues to receive for this extremely important downtown project."