York City's economic and community development director said the city's Redevelopment Authority will move expeditiously to reposition its newest asset for the private real-estate market.

If all goes well, the RDA will be ready to sell the former Citizens Bank building within a year, Leonardo McClarty said.

"I think if the right person came along, we'd be ready tomorrow," McClarty said.

This week, the RDA — a board of volunteers who govern a bank of city-owned properties for the purpose of revitalization — finalized a settlement agreement with the owner of 1 N. George St. to buy the architectural gem for $515,000. The former bank sits on the northeast corner of Continental Square and has been vacant since early 2012.

Ideal uses: McClarty said the RDA is gathering ideas for potential uses of the building, but three "realistic possibilities" stand out — restaurant, retail and office.

City officials have scheduled a tour of the building for "invited guests" next week, he said.

The 25,356-square-foot structure was built in 1924, according to a listing on the ROCK Commercial website.

The property includes a three-story attached office structure, the listing says.

McClarty said the RDA was especially interested in acquiring the building because of its "prime location" in the city.

"It's a gorgeous building," he said.

McClarty said he'd like to see the RDA sell the building for at least the $515,000 purchase price.


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"Minimally, we want to break even," he said. "But the board as a whole has not had that conversation."