FORT WAYNE, Ind. (WANE)– The City of Fort Wayne has approved yet another land purchase to create room for future riverfront projects.

According to the Fort Wayne City Council resolution, the city plans on acquiring the Pepsi warehouse facility on North Harrison Street, north of Promenade Park.

The price tag for the acquisition rings up to around $4.5 million. The announcement comes after the City announced its plans to purchase nearby Schaab Metals over a month ago. Schaab sits just across the street from the Pepsi facility.

The resolution to acquire the Pepsi Warehouse is set to be presented at the City Council meeting on Tuesday.