The organization announced Wednesday that it has purchased the building at 118 N. 12th St. from the Steven G. and Carol J. Pederson Trust.

Terms of the deal were not disclosed, but Jessica Webb, president of Heartland Hope & Homes, said the trust donated the down payment and will accept monthly payments at a competitive interest rate

“We are so excited to finally own our building and be able to set a new course for the future of the organization,” Webb said in a written statement. “We’re extremely grateful to the Pedersons for providing us with this opportunity and for their generosity.”

For many years, the building was the Fort Dodge Senior Citizens Center. It was replaced in that role by Citizens Central in the 600 block of Central Avenue in about 2000. The building was then occupied by Habitat for Humanity and then Heartland Hope & Homes.

The ReStore occupies most of the building’s space. That shop sells building supplies, much of which were salvaged from places that were demolished or renovated, at competitive prices.

Webb said a lot of that inventory is going to be purged.

“We are looking to refocus our retail offerings in a smaller footprint, which will allow us to potentially fix up and lease some of the freed-up space to compatible businesses,” she said. “We are already in talks with two different retailers who have expressed interest in sharing space with us.”

She said the remaining inventory will be focused on home improvement items like paint and flooring materials.

Todd McCubbin, the vice president of Heartland Hope & Homes, said the organization is talking with a cabinet manufacturer with the goal of being able to provide customers with custom-fit new cabinetry at “prices that can’t be beat anywhere else.”

McCubbin said the building itself will also get some upgrades.

“The exterior could use a good facelift, so we’ll likely be having a painting party there later this summer,” he said.

“This building is a lot bigger than it looks from the outside with a really versatile floor plan, so there are a lot of potential changes and upgrades we can make now that we own it,” he added.