City puts downtown properties up for sale - KPLC 7 News, Lake Charles, Louisiana

City puts downtown properties up for sale

LAKE CHARLES, LA (KPLC) -

The City of Lake Charles is putting two landmarks near downtown up for sale to regenerate some interest in downtown development.

The city is selling both the former Sears property and Pinnacle property off the lakefront on Lake Shore Drive.

"The overall economic climate is improving and so now is a good time to go back into the market," said Mayor Randy Roach of Lake Charles.

Mayor Roach said the city is searching for a developer that will build either a commercial or residential structure on the former Sears property to expand upon the Ryan Streetscape project.

The property was worth $800,000 when the city purchased it, however, Mayor Roach said the property is worth more now.

"Any offer that we get must be evaluated from the standpoint of fair market value," said Mayor Roach.

In addition to selling the former Sears property, the city is also looking for a developer to purchase the Pinnacle property.

The city council approved to place the Pinnacle property back on the market last month.

"They gave us up to six months to find a developer to develop the property," said Mayor Roach.

If the city does not receive an offer within six months, the property may or may not be sold for development.

"At that point the city will have to make the decision of whether or not to demolish that building," said Mayor Roach.

While the fate of the Pinnacle property is not final, Mayor Roach said the decision is final on selling the former Sears property.

"The city is not interested in keeping that property, we're interested in selling that property and putting it back into public use," said Mayor Roach.

The city has had several inquiries on the former Sears property and the Pinnacle property. However, the city still waiting for a developer to make the first offer. 

The city is giving developers until August 15 to make an offer on the Pinnacle property.

Copyright 2011 KPLC. All rights reserved.

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