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Downtown No Longer Looking Up

By Eric Richardson
Published: Tuesday, December 08, 2009, at 09:37AM
No Longer Looking Up Eric Richardson [Flickr]

A painter begins to white out the defaced sign for Park Fifth that has stood at 5th and Olive since 2007. The development would have contained a 76-story tower.

Downtown is no longer "Looking Up."

A paint-splotched sign advertising Park Fifth was finally put out of its misery this morning, long after the mega-project ceased to be a viable development. The site at 5th and Olive was intended to house a pair of towers, one 76 stories. Inside would be condos and an upscale hotel.

A fancy sales center was built out across the street in the Gas Company Tower, but the development never got to a groundbreaking. In June of 2008, the project announced that it had received a construction loan commitment, but six months later one of its key investors was accused of running a Ponzi scheme.

In June of 2009 the property was put up for sale. It does not appear to have sold.


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