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City to purchase downtown Lazarus site

One week ago Federated Department Stores announced plans to close Columbus' downtown Lazarus-Macy's location within a year. Columbus Mayor Michael Coleman Monday announced the city plans to purchase and develop the location.

Mayor Coleman says Federated Department Stores donated the 1 million square foot building to the city and the city decided to buy the surrounding land, also owned by Federated, for $5.7 million. Coleman says the total value of the site -the building and the land - totals $25 million.

The mayor would not say if any developers have expressed an interest in the location and he says there are no concrete plans for the site. Coleman says a mix of housing, retail and businesses could potentially be housed in and around the current building. He says it is doubtful the building would be demolished.