Two duplexes and a single-family home standing mid-block at 2924-2932 Bryant Ave. S. may be replaced by a six-story, 86-unit apartment building.
The project would include a mix of apartments of about 900 square feet or less, with amenity decks on the second and sixth floors and a green roof with landscaping in movable trays.
Two ground-floor walkup units would have the potential to become commercial space. About 64 parking spaces would stand at street level and underground.
Yellow Tree Development Corporation co-founder Robb Lubenow described the project as entry-point market-rate housing, which he said would contrast with luxury housing in the area. Projected rents range from $995-$2,095, although Lubenow said rents would fluctuate with the market. Units include 380-410-square-foot studios, micro one-bedroom units of 480-520 square feet, full-size one-bedroom units of about 625 square feet and two-bedroom units at 900 square feet.
The project is a partnership with Hall | Sweeney, a group that has the land under contract for purchase, Lubenow said.
The proposal would require city approval to increase the height and floor area ratio. It’s slated for an initial appearance before the city’s Planning Commission Committee of the Whole on Oct. 18, and the developer hopes to seek a vote of approval before the end of the year. Pending approval, groundbreaking would be early next year.
Yellow Tree has proposed an additional redevelopment project, moving on a slower timeline, in the Whittier neighborhood at 28th & Garfield. Silver Tree LLC purchased 601-629 W. 28thSt., currently home to a three-story apartment building, for $1.7 million in June. That proposal has not yet been presented to the city.
The developer also received Planning Commission approval Oct. 1 for a six-story, 146-unit project with 7,000 square feet of commercial space at 1713-1735 Nicollet Ave. and 16 18th St. E. in the Stevens Square neighborhood.
Lubenow said the company’s projects have been well-received, and said they’re bullish on their approach.
“The first things to rent are the studio spaces,” he said.