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Lender Files $13.4 million Foreclosure Action against the Comeau Building in Downtown
 West Palm Beach, Florida;  Owner NCP Holdings Had Plans to Convert the
 80-year-old Building into a 162-room Renaissance Hotel
By Jeff Ostrowski, The Palm Beach Post, Fla.McClatchy-Tribune Regional News

Mar. 20, 2009 --Bank of America has filed a $13.4 million foreclosure action against the Comeau Building, a downtown West Palm Beach landmark Owner NCP Holdings of Chicago said last year that it would turn the 80-year-old building at 319 Clematis St. into a 162-room Renaissance Hotel, a Marriott brand.

NCP Investments also planned to turn the Southern Bell building at 326 Fern St. into a 150-room hotel operated as an Aloft by Starwood.

But both projects have been on hold as the credit crunch has deepened.

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Copyright (c) 2009, The Palm Beach Post, Fla.

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