MANCELONA, MI -- The former DURA building in Mancelona has been sold and now the community is saying it's great news.

7&4 confirmed the sale of the building Wednesday, but there is still no word on the company that has bought the property.

Blu North Realty says a confidentiality agreement is keeping it secret, but for the community, the news of a new owner and the potential for new jobs is enough to cheer about.

"I think it's really great news because this city really needs an infusion to get it rolling again and everybody is really excited about it, I hear they're going to employee a lot, need some workers up there," said Mancelona resident Tim Custard.

Back in 2008, 300 workers got a pink slip when the DURA plant stopped their operations.

The community is hoping this is a glimmer of hope.

7&4 news will bring you an update once we know more information about the new owner.