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The sale of the former State Correctional Institution at Cresson property to an Indiana County man for $600,000 was finalized Tuesday, Troy Thompson, spokesman for the state Department of General Services, confirmed.
The finalization passes ownership of the 328-acre property -- which includes a 443,202-square-foot building -- to Carl Weaver of Smicksburg, Thompson said.
In December, Weaver beat out three other prospective owners when he offered the highest bid for the former state prison. A minimum bid was set at $500,000.
The winning bid was far less than the state's $730,000 original asking price for the property. State officials dropped the price after the land failed to attract bidders.
Weaver's winning bid grants him access to all but 93 acres of the property, which were given to the Cambria County Redevelopment Authority last May. The original intention was to use that land to create a natural gas-fired power plant.
Those plans fell through in January, when developers at Energy Management Inc. terminated negotiations with the redevelopment authority, citing unpromising energy market conditions.
On Wednesday, Weaver's intentions for his portion of the property were not made clear. However, Weaver, who owns sawmills and gas wells in the region, previously told the Greensburg Tribune-Review he did not have a clear plan for the land, though he identified the timber in the 328-acre property as a selling point.