A portion of the old Prison Property on Third Street may soon be sold to develop senior housing. The Chillicothe City Council approved an option to sell 5.61-acres of the 24.75-acre property, essentially the northeast quarter of the parcel.
According to the ordinance to approve the option to sell, MBL Development Company of Kansas City will pay $5,000 to the city on the execution of the option. That option is binding through July 1st, 2022.
The proposed purchase price of the property is $84,000, with the sale contingent on financing through the Missouri Housing Development Commission.
Among the stipulations of the contract are a letter stating the land is zoned property for a Senior Housing Complex, and covenants will be in place that the property will only be used for a Senior Housing Complex