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Flaherty & Collins Properties plans to build a sleek $81 million, 28-story skyscraper on part of the former home of Market Square Arena in what would be the tallest new downtown development since the 34-story JW Marriott hotel opened in 2011.The city has agreed to contribute $17.8 million by investing property taxes generated from the project back into the development, which would break ground next spring and be completed by late 2015. The investment would require approval by the City-County Council.

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