The iconic Imperial Sugar Char house will be purchased and restored by the city of Sugar Land for $35 million.

The building is one of Sugar Land's most well-known crown jewels, but efforts to preserve the building have fallen through repeatedly.

Sugar Land plans to close on the property at the end of May and pick a private developer to start working on an agreement by the end of this year.

Sugar Land’s iconic Char House, the former Imperial Sugar site, could be acquired by the city in a move that could save the famous landmark.

If approved, the city said the $50 million would come from sales tax revenue designated for economic development.

The city plans to close on the properties in May while setting aside $50 million for the purchase and restorations.