The proposed project consists of the construction of a new 30-story, 375 ft. tall mixed-use building with the following features:
a 160 room hotel
400 residential units
15,000 sq. ft. of ground-floor retail
an integrated 460 space parking garage
A density bonus is being sought of 200 residential dwelling units per acre to allow a maximum density of 400 residential dwelling units per acre and an intensity bonus of 1.0 to allow a floor area ratio of 4.0 where 3.0 is the max. allowed.
An additional .12 acres will be dedicated to the Monarch Property (322 E. Jackson St.) from the Westminster property (350 E. Jackson St.) along the common property line.
The project was first presented to the city in 2005 as a condo tower by the same owner according to Growspotter, but got shelved due to the Great Recession.
The project's Master Plan is scheduled for a public hearing at the August 18th meeting of the Municipal Planning Board.