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Tony Shahrasebi, the property owner, said his architect and engineers are working on a new challenge in the basement of the building. The old stone wall along Somerset Street needs to be supported since there’s gravel fill under the road that could impact work on the wall, according to Shahrasebi. He said his construction team will be submitting drawings to the city for approval.

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As for possible tenants, Shahrasebi suggested there will be more interest when work progresses.

“People are looking at it,” he said. “People will come forward when we see some action.”

More than 10 years have passed since a partial collapse of the building, which was once home to the Duke of Somerset pub. There have been legal disputes, partial demolitions and multiple redevelopment plans. The building, which dates back to 1899, has heritage protection, so anything the owner wants to do must be approved by the city, which doesn’t want the entire building torn down.

Watson said he doesn’t understand the business model behind keeping buildings like Somerset House vacant.

Shahrasebi figures he has swallowed about $15 million on the property from construction costs, legal costs and lost income. The bills aren’t deterring him from trudging on with the redevelopment. He still has no interest in selling the land.

The city established a “heritage matters” task force in 2016, partly in response to the Somerset House debacle.

Watson, who sits on the task force, said the city might have to offer more financial help to owners of heritage buildings, but it depends on the circumstances.