Plans for downtown cocktail bar come up dry

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Plans to renovate a downtown Franklin building into a cocktail bar with condominiums upstairs stalled and are now being dropped.

The Franklin Development Corp. is negotiating an agreement that would release developer Indreno from the project to renovate the former Padgett building, at 97 E. Monroe St., but will want to find another developer willing to renovate and restore the two-story building.

Indreno originally proposed turning the first floor into a cocktail bar and two storefronts for small shops, renovating the second floor into condominiums and restoring the historic look on the exterior. A contractor completed demolition work inside the building about a year ago, but the project stalled when the developer had issues getting building permits from the state for the mixed-use building.

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