Prime Group Realty Trust's recent cash crunch has resulted in turnover in the executive suite as well as auditors' questions about its ability to continue as a going concern. Nonetheless, the REIT's plan to develop a mixed-use office, retail, condominium and hotel in a 19-story addition atop Union Station appears far from dead. The proposal goes to the committee on historical landmark preservation Tuesday and is scheduled for a hearing by the city's plan commission May 16.
Besides rehabbing the train station, Prime Group's plans include 180 condominiums, 400 rooms in a Hilton Harrison conference hotel as well as office space.
Along with five other development teams, Prime Group had one potential project taken off its plate. It failed to make the cut for consideration for the job of master developer for 108 N. State St., formerly Block 37.
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