Simbol Commercial Inc., based in Texas, purchased the buildingat 911 Walnut for an undisclosed amount. Estimates show that about$20 million would be needed to convert the 32-story structure intomore than 220 apartment units.
To proceed with the residential conversion plan, Simbol willneed to acquire about 250 new parking places. If securing enoughparking is not possible, the building may be marketed to remain asoffice space or to house telecommunications equipment. The buildinghas been vacant since 1996.
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