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A plan to convert the Ambassador Hotel to affordable apartments was approved Tuesday by Orlando's Municipal Planning Board.
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A developer is planning to convert a run-down West Colonial Drive hotel into a safe community of 150 affordable apartments.
China has cut a key interest rate for long-term loans by a record amount, a move that would reduce mortgage costs and may help counter weak loan demand.
Some Whitehaven residents are opposed to the redevelopment of a hotel into an apartment complex on Elvis Presley Boulevard.