The city issued a request for proposals in October 2001, seeking a developer willing to redevelop the site for retail and office use while restoring the 80-year-old building facades.
Liberty Life Insurance Co. was the first African-American insurance firm in the northern US when it was established in 1919, according to the department of planning and development's landmarks division. Two years later, the company moved into Roosevelt State Bank's new building, according to the division, eventually buying it in 1924. A 1929 merger of three firms created Supreme Life Insurance Co.
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