By Hadas Kuznits

PHILADELPHIA (CBS) – Progress is being made on the Divine Lorraine Hotel.

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Developer Eric Blumenfeld, president of EBRM (Eric Blumenfeld Realty Management) says construction work on the Divine Lorraine may have been dormant over the past year, but that doesn’t mean his company hasn’t been making plans.

“It’s a challenging project just based on the condition of the building, so we needed some creative financing.”

He says the project, which was originally slated to be condos, may now be returned to its original use as a hotel. That decision will be made over the next 45 days. In the meanwhile, graffiti has been power washed off the outside walls.

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“We have so much work on the exterior, whether it’s residential or hospitality, that work has to get done either way.”

Blumenfeld says he expects this project to be complete within the next 12 to 15 months.

“By next summer, North Broad Street is just going to be I think not only the hottest place in Philadelphia, but one of the greatest transformation stories anywhere in this country.”

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