On top of the retail component, the proposed design calls for the addition of 280 units for residential use in a tower--including the lower retail floors--that will top out at 47 stories. The units are currently in the works to be designed as condominiums with the hope of attaining a Silver LEED certification, with features, among others, that include rainwater storage, high-efficiency lighting and operable windows--which naturally ventilate the building in order to reduce the burden on heating and cooling systems--among others, to be determined.

The mixed-use facility still needs approval from the citizen advisory council and requires permits from the city. The approval process should last the summer and the developer estimates--if the project is approved--by the fall a timeline can be set for the project's completion.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.