The blighted Plaza Tower building has officially been sold.
Sources tell WDSU that the building was purchased by two developers, Brian Gibbs and Lincoln Avenue Capital.
The developers hope to renovate the building into senior living homes.
The building used to be owned by Joe Jaeger prior to his death.
At one point, the city was looking at the option of demolishing the building if a sale did not go through.
WDSU Investigates has reported for years about the condition of the building, which is at the edge of the Central Business District.
The site has been a safety concern due to debris falling from the building and homeless people accessing the abandoned site.
READ MORE:Plaza Tower sold, will be redeveloped into senior living facility
