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Developer scraps STL rehab project

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Brooklyn-based Carnegie Management Inc. has decided against plans to rehabilitate the long-vacant Railway Exchange building in St. Louis.

The developer previously sought to buy the building and convert it into apartments.

Carnegie Management reportedly walked away from the project over competition concerns. One of downtown’s large vacant structures, the AT&T tower, may undergo redevelopment blocks away from the Railway Exchange site.

Read more from the St. Louis Business Journal.

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