West Side Flats is a 178-unit apartment building with 6,185 square feet of commercial space. Most of the units will be market-rate, but 20 percent — or 36 units — will be affordable to households with incomes at or below 50 percent of area median income. About 130 parking spaces will be located beneath the building, which will be five stories tall along Fillmore and four stories closer to the Mississippi River. - - They are pre-leasing and will open in the Winter of 2014.
The history of the property is complex. It was going to be "The Bridges" with luxury condos and maybe even a movie theater but that was before the crash and the great housing depression of 2008-2011.
I think apartments are a great use of this particular piece of land near the lower end of the Wabasha Bridge.