Montgomery City purchased two downtown parcels to enable convention center expansion, speaker says

Unidentified Speaker, Speaker, said Montgomery City purchased 425 and 475 Moulton Street for about $5.5 million to secure strategic downtown property for future redevelopment aimed at supporting tourism and local businesses.

The purchase, the speaker said, is intended to support an expansion of the city's convention center. "This really is done to expand our convention center, roughly doubling the size of it as well as those entities that we can host, right here in Montgomery," the speaker said.

The speaker estimated the potential annual return on investment from the expansion at "anywhere from about 75 to a $100,000,000 on an annual basis," and characterized the acquisition as "great news" for Montgomery and the River Region in Central Alabama.

The transcript does not specify how the purchases were financed, whether the acquisitions required or followed a vote or other formal approval, or a schedule for design or construction. There were no details in the provided remarks about project cost estimates for the expansion, timelines, contracting steps, or required outside approvals.

If and when the city releases funding details, timelines, or formal action records, those will clarify the procurement and implementation steps for the convention-center expansion.