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SOMERVILLE, MASS. — The renovation of a commercial building located at 130 Broadway is under way. The gut renovation of the building will be complete this fall. PSG Framing, an archival framing company, will occupy the back portion of the building. Outside of the building a $7 million streetscape improvement is being completed. MassDevelopment provided a $3.5 million loan to acquire and renovate the building. The project team includes Boston-based Harborlight Advisors and LONdesign.