MONROE — The next construction project in the North Kelsey area could be a densely packed apartment complex standing three stories tall.
The City Council discussed the proposal from Seattle-based Tarragon Properties last week.
Tarragon’s proposal for a site along Tjerne Place is to build about 200 apartment units on the 10 acre site. The site is the vacant space in front of Lowe’s.
Tarragon has until June 24 to complete a site development agreement. A letter of intent to purchase the site would come next.
A conceptual site plan has a mix of one-A conceptual site plan has a mix of one-bedroom and two-bedroom apartments, plus a park and a bocce ball court.
It would have 115 on-site parking spaces, and the concept lists having an additional 127 parking spaces offsite.
The company sought council feedback on the plan last week. The city will need to approve the concept for the plan to move forward.
The city and Tarragon already signed a memorandum of understanding about the property in March, a preliminary step toward completing the sale.
A potential purchase price is not publicly disclosed.
Slowly but surely, the city has started selling the remaining pieces of North Kelsey, the huge land area it bought in 2005.
In 2018, the city had 11 remaining parcels to sell at North Kelsey. The apartment complex would fill five separate parcels and combine them into one.
The city is working to sell a different parcel for a dental office. Another site at the corner of Tjerne Place and Chain Lake Road is listed to be future retail.
The largest remaining parcel is in the backwoods behind Fred Meyer.
The city hired a new real estate brokerage team last year which has brought many of these new sales deals.
