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ST. LOUIS-The City of St. Louis has reached an agreement with the US General Services Administration (GSA) to purchase the Abram Federal Building at 1520 Market St. for $7.5 million. Calling the building “underutilized for some time” GSA’s newly appointed administrator Lurita Doan says the building was no longer needed in the federal portfolio.

Following a meeting with Doan, Mayor Francis Slay and comptroller Darlene Green made GSA an official offer to purchase the building. The city has been planning to purchase the building for four years and in May put forth a $750,000 deposit. To make the deal work, the city is selling 99-year leases on two parking lots next to the Robert A. Young Federal Building at Tucker Boulevard and Spruce Street for $2.7 million. GSA has also agreed to credit $1 million in rent toward the purchase price.

With the deal closed, the GSA headquarters is required to conduct a final review and present the city’s offer to the Senate Committee on Homeland Security and Governmental Affairs and the House Committee on Governmental Reform. Once Congress agrees on the conditions, GSA will transfer title to the city.

Once the property is under new ownership, GSA will be leasing space back from the city until the Department of Agriculture can move into new space at the Federal Center on Goodfellow Boulevard.

Built in 1961, the Abram Federal Building is located within a targeted redevelopment area for the city. For years, the building has been looked at as a site for a possible parking garage for the historic Kiel Opera House. In recent months, however, the city has proposed using the building as a multipurpose structure with 760 parking spaces and an arts/education space.

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