A key parcel in the planned Portage Crossing is now in the hands of the city of Cuyahoga Falls.

City officials announced the purchase of the former BP gas station at the northeast corner of State Road and Portage Trail. It's been closed for some time.

Cuyahoga Falls director of development Susan Truby says the former gas station is a key gateway to the retail project.

"It is the key corner, again, because you're going to have a brand new project with a whole different total look," Truby tells AkronNewsNow.com, "so it was very important that a gas station not be located there."

Truby says the underground tanks at the old BP station were removed long ago, and the city expects no problems with quick demolition of the property.

Truby tells AkronNewsNow.com that developer Stark Enterprises could have some news very soon about Portage Crossing tenants.

"Yes, we're getting close," Truby says. "The developer tells us he is very, very close to signing some deals."

The purchase price for the former BP station was $885,000, split 50/50 between the city and Stark Enterprises under the project agreement.