The City of Beaumont is planning to purchase the old ATT&T building downtown near the civic center for $1 million.
Inside the building are loads of asbestos, and a flooded basement.
The structure will be demolished, and City Manager Kyle Hayes says it could cost $500,000 to demolish due to the abatement.
The four acres of land it sits on will remain open, with the possibility of future development.
The idea is to make the space open near the riverfront, and potentially lease it out to restaurants similar to the Neches River Wheelhouse in Port Neches.
Councilman Mike Getz wanted to table the item, saying he'd like to see private investors buy the property.
He eventually voted in unison with other council members to go forward with the purchase.