The police chief says the new property will put more officers in a growing area of the city.
The Josephine Pankey Center on Highway 10 has sat vacant for at least 10 years and the Little Rock School District has no plans to use it.
The City of Little Rock saw an opportunity to increase its crime-fighting efforts.
So they arranged a deal with the school board to get the property with hopes of transforming it into a police substation and community center.
"This is simply a renovation. The building is structurally sound. It's been there for a number of years. It just needs internal improvements, parking and access," said Chief Stuart Thomas.
Thomas says the city will use money from the recent one cent sales tax measure to construct the building and it should be open and ready to go by the end of the year.