A new development planned on five acres on Vine Street near Georgia Avenue will offer 136 for sale units, Emily Mack, president of the Rivercity Company, said at a Downtown Chamber of Commerce meeting on Thursday morning.
She said the developer is calling the units - not 'affordable' - but 'attainable.'
Ms. Mack said smaller units will be in the low to mid $300,000s and three bedroom units up to $500,000. She acknowledged that the prices are not attainable for many, but are lower priced that some other new downtown units.
Ms. Mack said that development will be part of three large-scale projects bringing 700-800 new downtown residential units in the next 3-5 years.
The first is the recently completed River Rocks on an entire block of a former Unum parking lot and across Cherry Street.
She said the third "Walnut Hill" phase would be on another large Unum parking lot just south of River Rocks.
Ms. Mack said Rivercity is completing a "Dashboard" that will show the status of such downtown developments.
At the same time, she said Rivercity is on an ambitious schedule for "Re-Imagining Broad Street." She said it will be a block by block schematic study of seven blocks of Broad Street going south from the Aquarium.
An intensive five-day planning charette is planned in the first quarter of next year to help guide the work, she said.
Ms. Mack said the aim is to "make Broad Street a premier public space" through the use of multi-modal transportation, technology, green infrastructure and development.
She said Broad Street is 120 feet wide and there is opportunity for car lanes, on-street parking, protected bicycle lanes and wide sidewalks. She said it is hoped to work with city public works to take the opportunity to improve infrastructure under Broad Street.
She said Rivercity is already gearing up to plan for the reuse of Hawk Hill when the baseball stadium is vacated by the Lookouts.