The Southern Alleghenies Planning & Development Commission will continue to lease the building it moved into in September at 3 Sheraton Drive.
The commission had explored purchasing the building, but it could not agree on a purchase price with Lawruk Properties, which owns the 7,500-square-foot building which previously housed a Prudential insurance office.
The commission offered Lawruk $850,000 for the property after a recent appraisal conducted on behalf of the commission set a value of $870,000 for the building, Executive Director Edward Silvetti said Tuesday.
A previous appraisal on behalf of Lawruk Properties showed a higher value.
"We have a disagreement on what the property is worth. The real estate market has changed dramatically," Silvetti said. "Our plans are on hold. I hope we can have further discussions with Lawruk Properties."
The commission's 10-year lease agreement with Lawruk Properties contains two additional five-year options, so the lease could be for 20 years. Rent at the building is $84,750 per year and includes utilities.
"We will continue to lease but I still believe owning our own offices is better than continuing to lease," Silvetti said.
Dan Lawruk, managing partner of Lawruk Properties, was not available for comment.
