It’s refreshing to see a group of local investors trying to do something good with one of Albert Lea’s downtown gems. The Vault, also known as the Freeborn Bank building, could see new life if the city and a group of three local men can come to an agreement, and if all the other pieces fall into place.

As one of the most attractive, historic and well situated buildings in Albert Lea, the Vault has always had the potential to be a key part of efforts to make downtown a more vital place. It looked like a plan for Lea Center had similar potential last year, but since that idea rested on applications for state help, it’s gone nowhere since.

The great part about the newest proposal for the Vault is that the investors are all local people who do their business here and are accountable to our community. The community they have invested in over the years would be the one that benefits if they brought their plan to a successful conclusion. With some buildings downtown owned by absentee landlords and other pieces of property owned by those who don’t seem to care much about what happens to Albert Lea, it would be ideal to have a key project under the control of somebody who is personally invested and interested in the future of our area.

At this point, it’s way too early to get too excited, however. A deal has not been struck to give the group possession of the building, and even if that happens, progress could still be tripped up. It’s happened before with other attempts to get something done with Lea Center or the Vault. The redevelopment game can be so complicated at times that it’s often hard to tell in advance how a plan will turn out. Perhaps the presence of local investors who have good track records is enough to make this project different. We certainly hope so.