Bill Vrettas, vice president of the company tells GlobeSt.com that the change is "due to the marketplace. The company feels there is not much demand for office space." According to Vrettas, the plans for the residential space are still being worked on but he says that there will be market-rate condominiums and "possibly another component" but he declined to specify what that would be.
The building is currently zoned for office space and Pappas will be presenting its plans to the city's zoning board of appeals in a month. Vrettas adds that the company has no estimates yet on how much the project will cost.
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