But on 6-9-1997 a Second & Main spokesman said the group could not find a major tenant and may have to scrap or modify the plan. |
The proposed center was to include:
A 12-story, 141,000 square-foot office building. A 96-room hotel. A 2,200-seat performing arts center. 50 apartments. Parking for 1,590 cars. The cost:
Estimated at $113 million. The partnership of investors -- Second and Main Ltd. -- hopes to arrange local, state and federal government financing for about half of the total cost. The developer hired by Second and Main is Kajima International, which is to be paid a fee of three percent of the total cost. The players:
Second and Main Ltd. is a partnership of area corporations which purchased the old Lazarus building (originally Rike's) for $2.75 million in 1995. Steve Mason, chairman of Mead Corp., is the leader of the partnership, which also includes General Motors Corp, Reynolds and Reynolds, Iams Co., and several area banks. Reassessing the plan:
On June 9, 1997 Ronald Budzik, a spokesman for Second & Main, said the group had been unable to find a major tenant and would not be able to proceed with the original plan without one.
File created: 12-29-1996; updated 6-10-1997
Sources:DDN 11-15-1996 "Plan unveiled: Center includes theater, hotel, offices."
DDN 6-10-1997 "Lazarus project lacks tenants."
