FLORENCE TWP. -- A neighborhood bar known for hosting local musicians will be purchased by the township and demolished to make way for roadway improvements, according to a report.

The township plans to spend $327,000 to acquire Dr. Lou's Place at the corner of Hornberger and Railroad avenues, The Burlington County Times reported. The bar will be demolished to widen Hornberger Avenue as part of a larger revitalization of the Roebling Steel area, the report said.

Dr. Lou's Place hosts local musicians and open mic nights, which will continue until further notice throughout the bar's final months, its website notes.

Amanda Hoover can be reached at ahoover@njadvancemedia.com. Follow her on Twitter @amahoover. Find NJ.com on Facebook.