CASPER, Wyo. — The properties involved in the proposed sale of the Plains Furniture properties to FLAG Development have an appraised value of about $1.1 or $1.2 million.
City Manager Carter Napier said that appraisal includes the following properties:
- Livery building and some additional land to the south
- South parking lot, south of the Plains building
- The three buildings in the Plains complex
“Those properties appraised for about $1.1 or $1.2 million,” Napier said in response to a question from Councilman Steve Cathey during the Casper City Council’s Tuesday, Sept. 10 work session.
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The council is preparing to close on a deal with FLAG Development on Sept. 17 to sell the above properties for $500,000.
The City of Casper paid $3 million in 2016 for the former Plains building and some surrounding properties.
The proposed sale does not include all of the properties the city purchased in 2016.
The council entered into an agreement with FLAG Development, owned by Kevin Hawley and Brandon Daigle, in July to work toward an agreement to sell some, but not all of the properties.
If they decide to purchase the property, FLAG is planning to call the site “The Nolan” and is proposing developing up to 11 market-rate loft townhouses, an open-air courtyard and 8,200 square feet office space.
Their proposal also includes plans for seven three-story market-rate rowhouses in the south parking lot area. The Livery Stable would be demolished and converted into a private parking lot.
The agreement between FLAG and the City of Casper outlines rights and obligations of both parties leading up to a purchase agreement.
Further details about that agreement are included in this article.