A revived plan to construct a 255-spot parking garage concealed inside a modern space-saving apartment building just off Mass Ave. — where parking is becoming increasingly elusive — is back in front of the city officials who can make it a reality.

The six-story, 67,791-square-foot mixed-use development at 428 N. East St., dubbed Block 20 because of its location on the Indianapolis Plat Map, would be built on a surface parking lot owned by the neighboring Athenaeum Foundation.

Plans for the development have been in the works for more than three years.

It's one of two projects developer Chase Development is coupling in an effort to request up to $7 million in tax financing help from the city. The other one, a redevelopment of two existing buildings in the 600 block of North Park Avenue, would become office and retail space. Together, the projects are estimated to cost $40 million.

"We think we've got a really good proposal that makes a good case for redeveloping a parcel of land that for generations has been the lowest form of a use: A surface parking lot in the middle of Mass Ave.," said Indianapolis City-Council Vice President Zach Adamson, who sponsored the proposal.

He attributed the project's delay to years of "frivolous lawsuits" from neighbors.

The proposal now heads to the council's Metropolitan and Economic Development Committee on April 22. If the council approves the move, construction would begin in July and finish late summer 2020.

"I'm glad it's finally on the docket," Adamson said. "I've been hammering away at this for a number of years. This is an enormous win for the Athenaeum Foundation as well."

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The design of the future development would complement the aesthetic of the 125-year-old Athenaeum building, which houses a YMCA, theater space and Rathskeller restaurant. A nearly 6,000-square-foot restaurant will open in the ground floor of the Block 20 development, but developers are still in negotiations with potential tenants.

The 76 apartment units will wrap around the parking garage, sitting flush with the structure. A portion of those spots will be reserved for the apartment dwellers, but 180 would be paid public parking spots.

The high-end apartments range in size from a 420-square-foot studio to 980-square-foot two-bedroom units. They would come furnished and waste little space, with micro-kitchens and convertible furniture like beds that turn into home offices, floating closets and collapsible tables, Chase Development President Daniel C. Jacobs said.

"It's got an urban feel to it," he said. "It's happening in other markets all around the country, and I think it's something that would be embraced here as a very quality, simple way to live in the heart of the city, most importantly at an affordable price. We're really focusing on saving space, and we think we can do that through thoughtful design, higher-end finishes. The idea is to furnish them and create more of a turnkey experience."

Some would even come with a 65-inch TV, Jacobs said. The rent will be market rate, he said, but he didn't specify an exact cost.

Jacobs and the Athenaeum Foundation, a nonprofit that works to maintain the historic German landmark, approached the city for aid to help alleviate money issues as well as to offer support to the Athenaeum, which often struggles with funding.

"There are just many financial shortcomings that you have to deal with in an urban project," he said.

Jacobs said the city has a lot to gain by supporting the development.

"One less surface parking lot is always better," he said. "And a nonprofit will be enhanced by this."

The Athenaeum Foundation would receive a portion of revenue from the building, but it's not clear how much yet, foundation president Craig Mince said.

"An old building like this takes a lot of work," he said. "Whereas now we have to raise funds just to keep the lights on, this will mitigate that."

Cleveland Street, otherwise known as the alleyway between the future structure that serves as an entrance to the Rathskeller Biergarten, will be redesigned and repaved, with benches and lighting to create a seamless connection between new and old.

"The activation of Cleveland Street is crucial to the development in this part of town," Mince said.

Mince said he thought the gymnasts, otherwise known as "turners" who founded the Athenaeum, would've supported the development.

"The turners who started this place were very progressive."

Call IndyStar reporter Amy Bartner at 317-444-6752. Follow her on Facebook, Twitter, and Instagram.