Mar
09

Vista Fire Station Under Contract

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vista fire stationA buyer has signed a contract to purchase the historic Vista fire station, which developers have long hoped to repurpose for retail use.

Jeff Prioreschi of Painite Capital, which first purchased the property in 2008 for $1.45 million, confirmed the arrangement. But the deal has not yet been closed, he said, as the buyer continues its due diligence. “I would say it would happen,” he said. “If not, we will pursue and develop the property. But we do feel pretty confident it will move forward.”

Prioreschi declined to name the partner, but did confirm it was from out of town. The purchaser plans to be in town next week to continue negotiations. No other details on the deal were available.

The fire station, located at the corner of Park and Senate streets, was built in the early 1950s and at the time was considered one of the most advanced fire department headquarters in the country. It closed in the mid-90s – and at one point was scheduled for demolition – before being purchased several years later by Painite Capital, then Capitol Places.

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