The 10-story Market City Center has its debut on Thursday evening at a location in the 700 block of Market Street that was long neglected after a prior condo project fell through.
Boyd Simpson, whose Simpson Group developed the retail/apartment complex, said he expects that the apartments will be fully leased by the end of the year. He said there are already 130 on a waiting list.
"We will have 150-170 people living here in the heart of the city and that will change things," he said.
He said a number of the units are at affordable rates for downtown workers. It has mainly one-bedroom and two-bedroom units on floors 4-10.
Cats and dogs (up to 25 pounds) are permitted. A pet fee applies.
The first floor has 17,817 square feet of retail space, while the second floor has 22,456 square feet of retail.
Mr. Simpson said the first retail tenant will be opening this fall. Bantam + Biddy, a Southern cuisine restaurant from Atlanta, will be open for breakfast, lunch and dinner.
He said there are plans to animate an alleyway to the rear. It separates the new complex from the rear of buildings on Cherry Street, including the former Cooper Office Supply that is being re-developed.
The project includes a fourth-floor rooftop amenity area that looks down on the alley. It includes a workout room and a kitchen and lounge area.
Parking is next door at the SunTrust Building, also owned by the Atlanta-based group. Mr. Simpson announced that the towering SunTrust Building will also undergo refurbishing in coming months.
His group also recently bought Warehouse Row. He said it is almost full both on the shop and office sides. He said the next step will be to activate the lower level.
Kim White of the River City Company said the Simpson Group is making a $150,000 contribution to the current make-over of Miller Park.