Mayor Sangeetha Rayapati says this is just the beginning stage of re-making the riverfront.
"We want to insure that this is smart growth, growth that is sustainable, both environmentally but also economically. So that we're not just going to grow for growth's sake. We want to insure that where we do grow it's a methodical and well thought-out process."
Bridgepointe bought the 119,000 square foot building, and seven acres of land, in 2017.
City Administrator Bob Vitas says work will begin on a master plan for the riverfront, possibly by the end of the year.
"This is one part of many parts of the puzzle that we are acquiring. There is future property acquisition that needs to take place so that we can assemble all of the parcels, between the city and John Deere as well."
Pastor Paul Anderson says since buying the property in 2017, Heritage Church has held food distribution drives there, Toys for Tots has used it for a warehouse, and it's hosted a variety of community events.
"After much prayer and discussion over the spring and summer of this year our Heritage leadership team really discerned that the best way we could serve this community that we love would be to get this property back into the city's hands - into the hands, the very hands of the community that we love."
Last year, a consultant recommended, quote, "activating the riverfront and creating memorable public spaces and destinations." Suggestions for the Bridgepointe building included a business incubator, art gallery, and rooftop restaurant.
