A new price could be coming on the former Pioneer Bank Building at 401 Texas St. The city-owned building has been on the market for more than 238 days with no takers at $850,000, its original appraised value.
There has been interest in the building, just not at that price. “There was a pretty interested party who came back with a fairly long list of things he thought would need to be done to make it suitable for commercial occupancy, anyway,” said Shreveport Chief Administrative Officer Tom Dark.
That list was shared with the appraiser, who adjusted the appraisal to $507,000.
To lower the asking price, the city council must approve the change, something that Dark doesn’t think will be a problem. “We want to sell it,” he said, adding that the city has been paying utility costs on the vacant building for nearly a year.
In the beginning
The 4-story, 61,800-square-foot building opened in April 1977, and was referred to as ‘Pioneer Corner,’ because of its location at the corner of Texas and Edwards streets…