Update on Omni Building Feasibility Study
The Lubbock City Council has received an update to a feasibility study being conducted on the Omni Building.
At their meeting on Thursday, August 28, City Council members received information on the cost of asbestos abatement for either re-purposing or demolishing the defunct building.
The City of Lubbock entered a contact of sale on July 10, 2014, to potentially purchase the downtown Lubbock building and its related properties including a parking garage. The contract stipulates 90 days for the city to conduct assessments of the title and property with a possibility of a 45-day extension for a further fee. At the end of this period the city can either purchase the building or terminate the contract.
Many studies have been conducted on the building for a total cost of more than $135,000. The Environmental Services Agency conducted a survey to determine the cost of asbestos abatement. They found that it would cost between $1.2 million to $2.2 million to ready the building for renovation and from $3 million to $5.3 million to ready the building for demolition.
The Lubbock City Council will announce their decision regarding the Omni Building at a forthcoming council meeting.