A hotel and a theater originally planned for the project have been scrapped because of a softening in both markets. Still planned are three office buildings, a 700-slip parking garage anchored by an athletic club and two apartment buildings totaling 240 units.

The estimated $80 million project is slated for completion in 2004, but will be sped up or slowed down based on demand for the offices and apartments. The half-built development was abandoned in late 1998, a year after it began, when its original developers were unable to find follow-on financing.

The city began bankruptcy proceedings against developers Selwyn Bingham and Sylvia Cleaver in 1999. A bankruptcy judge approved the city's buyout and reorganization last month. The $2.3 million would be used to payoff several project leinholders.