ST. CLOUD - The old 912 Regency Plaza building in downtown St. Cloud has a new owner, and soon will have new life.  Netgain officially closed on the deal this (Wednesday) morning.

Netgain is an IT organization that hosts medical records software for clinics and hospitals throughout the United States.

Vice President of Operations Matt Riley says they'll continue to operate out of the former Federal Building, as well as expand their operation into the 912 Regency Plaza building.

Riley says Netgain employs 75 people now, and they have a "roadmap to increase that number substantially over the next two years".

Riley says they've already had quite a bit of interest in leasing out part of the building for gallery, retail and office space.  He says they will be reopening the event center, with a catering partner to be announced next week.  And the hope is to one day have a restaurant in the old Mi Famiglia Restaurante.

Mi Famigilia closed their doors in October of 2010.  The rest of the 912 Regency Plaza building has sat empty since the end of 2011.