More than $2 million will be spent just on the Goldspot'srehabilitation, says Michael Hogarty, a Desert Viking principal.The firm also has applied for a $400,000 historic restoration grantfrom the city.

The 12,262-sf Goldspot, located at the northeast corner of Thirdand Roosevelt streets, will "be returned to its 1927 glory,"Hogarty says. The undertaking calls for a new roof, steelreinforced walls, plumbing, electrical wiring, flooring andrecreated urns along the parapet. The new space, expected to becompleted by the third quarter, will most likely be leased tooffice tenants or perhaps retailers.

"We will hold this building forever," Hogarty says. "Our primeobjective is to effectively and properly complete therehabilitation and restoration. In able to be able to afford to dothat you have to put a tenant in there."

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