FORT WAYNE, Ind. (WANE) – There was no competition at Thursday afternoon’s auction of a former Citilink property. The City of Fort Wayne purchased it for the lowest possible bid: $360,000.
In 2012, Citilink closed the station at Superior and Lafayette streets and opened a new transfer station at Calhoun and Baker streets. Ken Housden, Citilink General Manager, said he’s happy with what the company received from the sale.
The money Citilink receives from the auction could go towards four new 40-foot hybrid buses, which cost about $600,000 per bus. Citilink expects the buses to last 16 years.
“We’re happy with the $360,000. That’s the appraised value and that will help pay for part of a bus,” Housden said. “[The bus station] really became a surplus piece of property for us and we’re always looking for funds.”
The site is a little less than an acre and sits between the Allen County Jail and a parking garage. It’s also across the corner from Headwaters Park and a block over from Columbia Street. The city said it’s a key spot in riverfront development.
“It’s the gateway to Fort Wayne. It’s very visible property; It’s the key to a lot of amenities downtown. It’s a very strategic location and part of phase one of the riverfront development plan we’re implementing,” Executive Director of the Redevelopment Commission Justin Brugger said.
According to WANE’s partners at the News-Sentinel, it took two years to prepare the area to be sold due to federal red tape. The site is 80 percent owned by the federal government and any owner would be responsible for unforeseen costs.
Thursday’s auction started with a minimum bid of $360,000. Had there been any competition for the property, bids would have increased in $10,000 increments. The Citilink board still has to approve the sale, which it’s expected to do at its meeting Thursday night.
When Citilink auctioned off a property on Barr Street several years ago, the YMCA spent more than $400,000 for it.