Area brokers familiar with the Commerce Drive submarket where the land is located and city planning department staffers confirm to GlobeSt.com that Selig is asking for the zoning changes to accommodate a planned retail-residential venture to be developed either by itself or with a joint venture partner. Selig Enterprise officials couldn't be reached at GlobeSt.com's publication deadline.

Brokers tell GlobeSt.com preliminary plans for the project outline the development of 400 apartment units or condominiums and about 375,000 sf of retail in two years. A main anchor would occupy the ground level with smaller businesses leasing the second-level of the planned center, area brokers say.

Rumored retail anchors are Target Corp., Costco Inc. or Home Depot Inc. However, Home Depot officials say they are no longer interested in the Castlegate Hotel location, area brokers tell GlobeSt.com. Home Depot had contracted to buy the site in 2001 but decided last year against closing the deal when neighborhood activists opposed the retailer's plans.