Update: Council votes to buy Victory Drive land for development

Columbus Council voted 9-1 this morning to buy an 83-unit, 5.6-acre apartment complex on Victory Drive for $1.165 million. The complex will be demolished and the land used for economic development.

Councilor Mike Baker, who raised concerns about taking property off the tax rolls, was the lone vote against the purchase. According to city tax records, the property produces about $13,500 a year in property taxes, but a total of more than $38,000 is due from 2008, 2010 and 2011.

Once the current owners, Alpine Apartment Project, LLC, relocates the tenants who are in the dilapidated complex and the city purchases it, the property will be turned over to the Development Authority so it can be cleared and made ready to go on the market., Deputy City Manager David Arrington said.

Mayor Teresa Tomlinson said after the vote that there is no specific business lined up for the land, but she expects that the Deelupment Authority will “market it aggressively.”

“There are a lot of things going on down there at this point,” Tomlinson said. “There is generalized interest from a couple of potential investors, but nothing concrete at this point.”