Plans to rehabilitate a former industrial building in the heart of York City cleared a hurdle this week when the York City Redevelopment Authority sold the property to a developer for $1.

The RDA approved the sale Wednesday of the 134 E. King St. Bond Building to Josh Hankey, the man who has spent the past several years buying up properties in the block bordered by Queen, King, Princess and Duke streets, dubbed Royal Square.

Now that the sale as gone through, work to revamp the building is slated to get underway in early August with a completion date set for April, said Hankey, who owns Susquehanna Renovations.

The roughly $1.5 million project will turn the century-old building into an "industrial-style wedding venue" with artist studios and co-working space.

"We're already booking weddings," Hankey said, adding after years of working out the finer details, it's now time to finally put the redevelopment plan to action.

Finished in March: Construction of the artist studios and co-working space is expected to be finished in March, he said.

With a new lease on life, the 4,500-square-feet building will include an on-site kitchen, reception area, cocktail lounge and suites for brides and bridegrooms.

During the revamping process, local artists will tackle the finishing touches, Hankey said, bringing a bit of uniqueness to the drabness of the concrete and brick building.

From the late 1800s to the early 1900s, the building was home to Billmeyer & Small Co., a railcar manufacturer that operated at many locations throughout York, according to city records.

It was last used by W.H.B. Corp., which operated Bond Sanitary Products Inc., a cleaning supplies vendor that closed in recent years.

The RDA bought the property at auction in 2012 for $150,000. The money came from "an anonymous contributor," officials said at the time.

"They prefer not to be named," Hankey said.

— Reach Greg Gross at ggross@yorkdispatch.com.