Train Waco (copy)

City Center Waco has scrapped plans to buy the building at 713 Elm Ave. Its director said another prospective buyer will serve the area well.

The plot thickens regarding the 13,000-square-foot Train Waco fitness club on Elm Avenue, whose owners have announced they will relocate to larger space in the QTI Promotions & Apparel building at 300 S. Valley Mills Drive.

Always looking for property to continue the development momentum in East Waco, and along Elm Avenue, City Center Waco placed the structure under contract for a purchase and began scouting possible uses.

But City Center has decided not to pursue a purchase at this time and has assigned its contract to another interested party, Executive Director Megan Henderson said Friday.

“We are unlikely to be the purchasers, in the final analysis,” Henderson said. “We are not able to announce anything, but I feel we are getting close. An entirely different entity is involved, and they will decide when to tell that story.”

Henderson said she is excited about the potential user and believes East Waco residents will welcome the news. She said community leaders have let it be known East Waco needs “some kind of financial institution, possibly a credit union,” and also favor a laundromat, grocery store and pharmacy.

“Part of our calculation has always been that we would interfere with the real estate market only to effect an outcome that is desirable, practical and unlikely to be delivered by the market itself,” Henderson said of City Center Waco’s decision to back away from the purchase.

Local real estate agent Raynor Campbell, with Reid Peevey Real Estate Co., is listing the building and confirmed the contract reassignment. He also said he could not revel the prospect because the deal has not closed but said he thinks East Waco will be well served.

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