You mean that massive empty building? It looked like some work had been done two years ago, when I lived thereabouts. Back then one of the papers also ran an article about that area gentrifying that reported that it was supposed to become condos. Don't know if anything's happening now, but I wouldn't count on it.
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That's a great building. I really like that and the firehouse at 4th and Thompson. Hopefully they're full of people rather than rats within a couple years.