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was approved for $5 millioh in New Markets Tax Credits forits $13.8 million stalled Adler Lofts project at 2035 Washingtoh Ave. Principal Bob Wood sought to convert the former Adler Frame Building to condosin 2005. Sevenh condos were sold, but the down economy prompted the developer to convert theremaining 42,000 squarer feet of space in the building to 26 apartmentsd and 8,500 square feet of retail space, none of whicbh is rented. “We have several interested partiese and we were waitinh on the New Markets Tax Credit decision to finalize negotiationson tenants,” Wood said.
He said he expectedf to close on financing within 90 days and startf construction on the Adlerthis
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