The historic stone building was Ottawa's main railway station from 1912 to the mid-1960s. The historic stone building was Ottawa's main railway station from 1912 to the mid-1960s. (CBC)

A historic former Ottawa train station may welcome rail passengers again in coming years.

Ottawa Mayor Larry O'Brien told CBC News Wednesday that the city is looking to buy the downtown Union Train Station, which was Ottawa's main railway station from 1912 to the mid-1960s. The stately stone building would be used as one of the downtown stations for the city's proposed light rail transit line.

"It would be a very exciting addition," said O'Brien.

He added that the landmark on Wellington Street, across from the Chateau Laurier hotel, is "perfectly located." It is on the Rideau Canal, close to the Ottawa Convention Centre that is currently under construction, the Parliament Buildings and the Byward Market.

The building is owned by Public Works and Government Services Canada, which uses it as a government conference centre.

O'Brien said the city is currently in "preliminary stages" of discussion about the station. One idea has the city paying a dollar for the site, with the province kicking in $60 million to $70 million to pay for removal of asbestos and other improvements to the building.