Coast Coliseum moves to purchase valuable property - WLOX.com - The News for South Mississippi

Coast Coliseum moves to purchase valuable property

The Mississippi Coast Coliseum has taken steps to purchase an adjacent piece of property in the hopes of attracting convention hotels. (Photo source: WLOX News) The Mississippi Coast Coliseum has taken steps to purchase an adjacent piece of property in the hopes of attracting convention hotels. (Photo source: WLOX News)
BILOXI, MS (WLOX) -

The Coast Coliseum has taken a multi-million dollar step towards the goal of bringing a convention hotel to the property. WLOX News has learned the Coliseum Commission has moved to purchase an 8.3-acre lot on Highway 90 adjacent to the Coast Coliseum and Convention Center.

Hurricane Katrina destroyed the Holiday Inn at that site, and the property is now under contract for an undisclosed amount of money.

The lot was scheduled to be auctioned off Tuesday, but according to the attorney who represents the coliseum, the commission put in an offer on Monday. The deal was accepted by Bancorp South, who owns the land.

The coliseum has plans to attract a convention hotel to the property, and the lot has been considered a possible location for the hotel. Right now, the coliseum and convention center uses the tract of land for overflow parking.

We're told the coliseum is expected to close on the valuable piece of real estate by mid-December.

Copyright 2015 WLOX. All rights reserved. 

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