ALBANY-An affiliate of Lone Star Real Estate Fund (US) L.P., an investment firm based in Texas, is expecting to start a $10-million improvement of the Crowne Plaza situated in Albany, this fall. City officials have sanctioned a 30-year property tax exemption for the owner of the hotel.
The new tax break was approved by the committee of the Industrial Development Agency. The Lone Star Real Estate Fund subsidiary purchased the property in April 2010. For the full story, go to The Business Review .
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