Two months after acquiring the Bourse building and 400 Market St., developers Lubert-Adler Real Estate Funds and Keystone Development and Investment are moving forward with conversion plans. Initially undecided between apartments or a hotel for the 173,700-square-foot building at 400 Market St., a zoning permit issued on August 29 now allows for 176 residential units, indicating a multifamily direction. The permit outlines a residential lobby on the first floor and units on floors 2 through 12, while the building currently remains mostly vacant office space.
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