TOPEKA (KSNT) – The City of Topeka has finalized the purchase of Hotel Topeka.

A spokeswoman for the City of Topeka announced the Topeka Development Corportation now officially has retained ownership of Hotel Topeka for more than $7.6 million. The hotel is remaining open for business and all services are expected to continue like normal.

“We are excited about the purchase being finalized, and steadfast in our desire to see the hotel redeveloped and eventually brought back to private ownership,” Topeka Mayor Michael Padilla, who also serves as president of the corporation’s board of directors, said. “In the coming months, the corporation, board of directors, and staff will be working closely with our asset manager and partners to develop a long-term plan for the hotel so that it can be a staple in our community for many years to come.”

The Topeka Development Corporation was created in October to take ownership, obtain necessary licenses and insurance and be in touch with a management company to watch over the day-to-day operations at Hotel Topeka, according to the spokeswoman.

In the past few weeks, the corporation has awarded a contract to an asset manager to help identify the hotel’s brand and find and select a long-term private operator. A contract has been awarded for a facilities assessment, which is underway.