SACRAMENTO (CBS13) — A storied building in Sacramento that’s been the center of both bustle and blight over the years may soon have a new beginning.

There are new plans for the old downtown Greyhound bus station.

The owners want to turn it into high-end housing. The one-time terminal now in the shadow of the glistening Golden One Center.

The old Greyhound station has been sitting empty, its doors closed, its windows covered, as people walk by on their way to Kings games.

“I’ve been ignoring it completely,” Sacramento resident Joe Countryman said.

Photos from the Sacramento Center for History show Greyhound buses lining Seventh Street in the 1950s. Other photos show its construction in 1949, and crowds outside the terminal in the 1980s.

This Greyhound terminal became history when Sacramento leaders spent $7.5 million to move the bus company to Richards Boulevard, blaming the downtown location for causing blight.

The building has sat empty ever since.

“Well it’s disappointing but so are a lot of other places downtown been disappointing,” Sacramento resident Todd Murray said. “They haven’t moved along. There just hasn’t been the economic incentive to get things done which is unfortunate. And now there is–so it’s great.”

The owners now promise high-end apartments here.

“Residences will consist of 58 ‘Class A units,’ along with parking and ground floor retail, in an elegant eight-story structure,” owner David Kassis wrote in a statement to CBS13.

Kassis said he planned to submit a formal plan to city leaders within weeks.