A long-planned, mixed-use development next to the Montrose Brown Line station in Chicago’s Ravenswood neighborhood is finally ready to break ground. In discussion since at least 2010, the project will contain 38 rental units, 5,500 square feet of ground-floor retail space, and just four off-street parking spots.

Dubbed Montrose Green, the new five-story, transit-oriented development will rise at the former site of an organic community garden known by the same name. The project was awarded its first, foundation-only construction permit late last week.

The design of the upcoming building comes from Level Architecture Incorporated and sports a variety of cladding materials to give it a more granular, less monolithic appearance from the street and the neighboring L station. Its mix of 31 one-bedroom apartments and seven two-bedroom units will average roughly 800 square feet.

The Montrose Green project comes from Chicago-based Cedar Street Companies and will be marketed under the group’s FLATS apartment brand. The developer is also working on a second FLATS project in River North. Dubbed The Ardus, that development will renovate and expand the 1920’s Bogardus steam gauge company building at 676 N. LaSalle into 149 apartments.

Like much of Chicago’s North Side, the Ravenswood/Lincoln Square community recently experienced a major influx of new rental projects near mass transit stops. Notable projects include a 40-unit development under construction at 4620 N. Western, a 24-unit building proposed for 4650 N. Damen, and a 166-apartment complex headed to 1825 W. Lawrence Avenue.