A state loan of nearly $1 million has helped close a financing gap for a project that will redevelop a former Farr's shoe store in Bethlehem into the Irish pub Molly Brannigans and three floors of office space, reported The Express-Times.
The loan means the Ashley project is fully funded, Ashley President Lou Pektor said. All of the financing will be finalized in the next 30 to 60 days, once Ashley wraps up some lease terms to meet bank requirements, he said.
"(The loan) certainly does help speed up the process," Pektor said.
The $5.7 million project is expected to create more than 50 jobs once the building at 2 W. Broad St. is renovated. Work is expected to begin early in 2009 and finish by the end of the year.
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