Unanticipated Costs Greet Jacksonville, Fla., Downtown Housing Project.

From: Knight Ridder/Tribune Business News | Date: March 7, 2001 | Copyright information

By Earl Daniels, The Florida Times-Union, Jacksonville Knight Ridder/Tribune Business News

Mar. 7--A proposed downtown housing redevelopment project is facing snags.

Officials at Vestcor Equities Inc. of Jacksonville yesterday said they have discovered that it is going to cost more than the anticipated cost of $31.1 million to redevelop two historic downtown buildings into loft-style apartments.

"It is not uncommon when you do a renovation proje...

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