The Fairbanks City Council has given the owner of the Polaris building more time to renovate it.
Developer Marc Marlow now has until September 30th to get the project started.
He wants to turn the downtown building into a 117 unit apartment complex.
Marlow had been under a deadline that passed in March to get permits to renovate or demolish the building.
He estimates the projects price tag at about 20 million dollars.