A small industrial pocket of Marcy-Holmes may soon turn into housing.
At a Minneapolis committee meeting last week, building developer CPM sought feedback from city officials on a new five-story apartment building.
The L-shaped building — with 97 units — will potentially be built along Ninth Avenue, which is lined mostly with industrial buildings.
The project is not specifically geared toward the University of Minnesota students who live in many of the area’s CPM apartments, and the development will not have the same leasing and move-in schedule as most student housing, CPM owner Daniel Oberpriller said.
The site would differ from the nearby Elysian, with more flexible leases and the concentration on single-bedroom apartments, Oberpriller said
The units will be affordable, slated for less than $1000 per month for a single bedroom, he said.
Recent college graduates and young professionals could potentially fill the building, Oberpriller said.
Currently, there are three houses on the lots along Eighth Street and two steel buildings on Ninth Avenue.
The structures will need to be demolished for the complex to be built.
CPM will present the proposed building to the Marcy Holmes Neighborhood Association on Tuesday.
Melissa Bean, executive director for MHNA, said the meeting will be the first discussion of the project between the two groups.
Rick Borchert, who has worked at a nearby business for 28 years, said the proposed housing is a step toward making the neighborhood safer, as the new building would provide better lighting.
But not all Marcy-Holmes residents are happy with the planned structure.
Cesar Mireles, a chemical engineering junior, said he prefers buildings owned by landlords, instead of property management companies.
“They tend to be cheaply made but expensive to live in,” he said.
