Ambitions had been lofty. A real estate developer had committed to build a three-block, multiuse project in downtown Pittsburg. It would combine retail space and condominiums and create an enlivened city center. Then the recession hit, and the developer walked away. The three-block plan was pared to one-block. Even then, there wasn't enough money to finish the project, and the bank lender held the right to foreclose on it.
The situation was dire. The b...
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