Louisville council extends contract to buy Pine Street railcars, land for $396,000

A 5-1 vote gives the city until Feb. 26, 2027, to complete subdivision review and close on the property and railcars.

Zoning map from the Planning Commission report, with the 1155 Pine Street property outlined.

Published at November 7, 2026 at 7:10 AM

Louisville City Council voted 5-1 on Oct. 6 to extend its contract to lease and buy the railcars and land at 1155 Pine St., giving the city until Feb. 26, 2027, to complete subdivision review and close. The extension does not transfer ownership.

The $396,000 purchase price includes $220,000 for the land and $176,000 for the caboose, boxcar and the seller’s moving expenses. The city had paid $150,000 into escrow and $70,000 in lease payments through September, the city manager told the council. Under the contract, those payments are credited toward the price if the purchase closes. The manager said the city would recover the escrow deposit if it did not extend the contract but would not get the lease payments back. The contract and extension require the city to complete subdivision steps before closing.

The proposed Coal Creek Junction plat would split the 10,414.4-square-foot property into a 5,946.2-square-foot lot with the existing home and a 4,468.2-square-foot tract for the city. The two relocated antique railcars are on the city-bound tract, which would be added to Tomeo Park if the purchase closes, the city’s staff report says.

Planning Commission staff recommended approval of Resolution No. 11, which recommends approving the plat with modifications. The resolution describes the proposed changes. At the Oct. 6 council meeting, the city manager said subdivision review had begun but the property had not yet been subdivided, and expected the plan to go before the Planning Commission on Nov. 12. The manager’s report said a later closing was anticipated.

Residents Eric Mayes and Barb Kish questioned the purchase’s transparency and fairness and raised concerns about long-term restoration, maintenance and public-access liability costs. Kish said those costs could add hundreds of thousands of dollars.

The manager said staff would safeguard the railcars in the short term and later seek capital-budget funding for exterior weatherization. Staff did not provide an overall estimate for restoration or ongoing maintenance during the discussion.