The seven-story, 70,000-sf building once housedstreet-levelstores and upper-floor offices. It has been vacant fora number of yearsand in it demise, the interior was gutted. Allwiring and pipes havebeen removed. Another problem is that theshell of a building hasno parking spaces available.

Some want the building razed, others see the possibility forrenovationor conversion to loft apartments. A new urban blight taskforce convenedby Mayor Kay Barnes has put eliminating vacantbuildings at the top ofthe priority list. Two possible financialmeasures to accomplish thisinclude the creation of a $1 millionfund to renovate or raze structuressuch as the Law Building andanother allocates $100,000 for clean up ofareas surroundingredeveloped Downtown buildings.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.