To do the renovation, Richard Bowers Co. is designing an underground parking garage to link the 1970s-built, 305,000-sf structure with his own property next door. The configuration gives the old asset an additional 475 parking spaces, a rare commodity Downtown.
Several unsuccessful efforts have been made over the years to rehab the Coastal States building. Richard Bowers announced a renovation of the structure several months ago but was searching for financing before beginning the work.
What sealed the deal was parking. When the building re-opens in third quarter 2001, its exterior will be green glass.
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