Montgomery Council Votes on $5.5M Advertiser Building Purchase

Montgomery City Council to Vote on $5.5M Purchase of Former Advertiser Buildings: A Move to Expand Convention Center SpaceThe Montgomery City Council is set to vote today on a significant purchase: the former Montgomery Advertiser buildings. The $5.5 million deal with Farpoint Investment Ventures aims to acquire the properties at 425 and 475 Molton Street to expand the convention center space along the downtown riverfront. The vote was postponed last week due to requests for more time, allowing for further discussion and consideration. Councilman Charles Jinright raised concerns about the involvement of the Retirement Systems of Alabama and David Bronner, as well as the status of a $100,000 feasibility survey. Mayor Steven Reed, however, has publicly supported the acquisition, calling it a win-win situation for the city. The outcome of todays vote will determine the next steps for this downtown development. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.