The U.S. Environmental Protection Agency and the Texas Commission on Environmental Quality OK'd the Seaholm Power Plant in downtown Austin "ready for reuse" on Tuesday.
The EPA said the site meets federal safety regulations and is now clear of contaminants, including asbestos and lead.
The EPA's "ready for reuse" distinction clears the way for the property on Cesar Chavez along Town Lake to be redeveloped. Plans have been in the works for years to turn the eight-acre site in a commercial and residential mixed-use urban renewal project.
City leaders were on hand for the presentation that included scale models of the future site.
"This is a remarkable day. After years and years of decommissioning and environmental clean-up, now we're ready to go. It's safe and healthy and clean to be in here and we're going to make good use of this great facility," Austin Mayor Will Wynn said.
The 150,000-square foot facility was built in 1948 and decommissioned in 1996. Wynn said the city wants to maintain the power plant's historic design.
Previous plans included space for a future Texas Music Hall of Fame. The neighboring Thomas C. Green Water Treatment Plant could become a new central library.
The redevelopment coincides with other urban renewal projects in downtown Austin, including the new City Hall and the Second Street Retail District.
