The City of Fort Wayne today acquired the Palace Restaurant property at 1202 S. Harrison St.

The property would be included in the area where a new parking garage would be constructed as part of the proposed Harrison Square mixed-use downtown development plan.

The purchase price was $2.4 million. By purchasing the property, the City expects to save nearly $1.5 million on the construction of a parking garage.

The owner of the Palace Restaurant recently approached the City to pursue an agreement to have the City purchase the property.