The vacant Federal Building at 800 Broadway could be under new ownership soon. Lubbock County Commissioners approved a contract offer and hope to close the sale in a few months.
Commissioner Bill McKay said the prospective buyer Heritage Land and Development Company of Memphis, Tennessee made an offer of $644,200.
He said the company wants to keep the historical look of the building while renovating it into apartments.
"We get a substantial price for the property," he said. "It's a win- win for the community. We get it back on the tax rolls and get it to occupy. So it will be a nice shining star for downtown redevelopment."
The Former Federal Court and Post Office building, the parking lot, and an adjacent parcel of land has been on the market since April.
Commissioner McKay said an offer made in May by an investor group didn't work out.