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Company modernizing sites on South College Avenue By CASSIE SMITH Doug Pederson and Jack Threadgill officially are turning a half-mile stretch of South College Avenue into Midtown. That's the surname given to five rental properties in Bryan that the pair are spending millions on renovating, hoping to turn it from what many described as an eyesore to a well-groomed area that will become a catalyst for future development. Twin City Properties Management Inc. plans to have a grand opening and ribbon cutting April 15 for the project. "We're transforming this neighborh