Tower House proposal dead

Tower House on MeridianA local accounting firm has bought the Grain Dealers Mutual Insurance building along Meridian Street for its headquarters after a local developer couldn’t secure financing for a proposed $50 million redevelopment (shown here). London Witte Group plans to move its offices from OneAmerica Tower and lease out the remaining space. Locally based developer Inner-Urban Homes & Hospitality let an option to buy the building expire after it couldn’t land financing, said company president George Nichols. The group had proposed adding a 14-story tower including a six-floor, 130-room hotel and 160 condos, along with 600-car parking garage over retail along Illinois Street. London Witte principals were not available this morning to discuss details of their plans.

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