Rendering via Berardi+Partners.

A proposal will be presented to the Downtown Commission next week for the construction of a new 15-story tower at the northeast intersection of Fourth and Rich Streets.

Representatives from Berardi+Partners will present the project to the Commission for conceptual review, which is set to include two stories of retail on the ground floor and second story, five levels of structured parking with 232 parking spaces, and nine stories of residences with 124 units on the topmost floors. An amenity deck is also planned on the seventh floor, above the parking garage.

If constructed as planned, the new building will replace a surface parking lot to the south of the existing 12-story Holiday Inn hotel at 175 E. Town St. A second building planned for the future is also included in the proposal, which would include another 168-space four-story parking garage with ground floor retail.

Stay tuned to CU for more updates on this project.