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Wednesday, January 28, 2009

Park Tower "on hold indefinitely"

In another blow to downtown redevelopment, 200 Park Tower, a project that was to renovate the 9-story office building overlooking Big Spring Park, is now on hold indefinitely, due to a lawsuit filed in August of last year by a group of California investors against the local developers, Park Tower, LLC. The California investors, under the name San Francisco Residence Club (after an old hotel/hostel in the Nob Hill area in SF that seems to have closed a few years ago), claim to have invested $6 million in a ground lease on the building, according to court documents and the Huntsville Times.

The project was expected to begin this spring, but with no news about it in at least a year, I had little hope for it anyway.

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