Crosland's plans for a $100 million apartment project with street level retail on the James K. Polk building site at 500 W. Trade St. are unfolding slower than anticipated.
When the eight-story, 400-unit building was announced in May, the real estate firm was planning to start construction this fall and complete the development by late 2009.
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Now officials say they expect to be busy through the end of the year selecting a demolition contractor and completing the permitting process.
“We, like everyone else, are watching the employment projections downtown to better understand market demand before getting too far ahead of ourselves,” said David Ravin, president of Crosland's residential division.