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Austin city council eyes former rehabilitation hospital, property

The city council of Austin, Texas, may purchase a rehabilitation hospital and neighboring parking garage formerly owned by Birmingham, Ala.-based HealthSouth for $6.5 million.

The city office of real estate services wrote a memo to the mayor and the city council advising them to purchase the land and the 87,774-square-foot property, stating it would be a "significant opportunity for the city" and that the price is "well below the appraised market value."

HealthSouth declared its intent to close the facility and terminate its land lease in August.

The city council will make a final decision on the transaction and tentative purchase price at its meeting Dec. 15.

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