E.B. Realty Management, the owner of the Divine Lorraine, is hopeful a proposed $43-million redevelopment of the property will finally begin in May.
Eric Blumenfeld of E.B. Realty and his finance partner, Billy Procida of Procida Funding, said they are scheduled to close on financing by then that will enable the conversion of the grand but dilapidated property.
It will have 126 apartments and, if completed, eliminate a big blemish that has loomed over North Broad.
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