The purchase of the Old Lubbock Post Office and Federal Building in downtown Lubbock was finalized Wednesday.
John Thompson was in Lubbock to sign paperwork and collect the building's key. Lubbock County Commissioners approved of the sale of the building for $425,000 on Monday.
Thompson doesn't know exactly what he will do with the building, but he hopes to preserve its history while putting it to good use.
"The usual suspects are apartments, a hotel or some kind of retail," he said. "We develop Stinson's in Austin, Texas, so some kind of coffee concept would make sense to serve the immediate market, but we would like to reach out to the larger community in Lubbock."
Thompson says he wants to help revitalize the downtown area, and he plans to start renovations soon.
"We like to go as fast as possible, and we have a track record of moving quickly, so we will move as fast as we can," he said. "This, as you know, went pretty quickly. We just saw it and fell in love with it, so we are really excited to work with the county - they have been great - and the city to do something really unique here."
Thompson said it was an easy decision to purchase the building because of his ties to Lubbock and to the building itself.
"My mom and dad grew up here and graduated from Monterey and Lubbock High," Thompson said. "Both of my grandfathers graduated from Texas Tech. My wife's grandfather litigated in this courtroom. Her dad clerked in the courtroom, so we have a real sentimental attachment to Lubbock. In our opinion this was an iconic, classic building in Lubbock."
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