An Aspen, Colo.-based real estate development concern says it wants to erect a 12-story, $20 million-plus, mixed-use tower in downtown Coeur d'Alene.

The company, One Lakeside LLC, was scheduled to meet with the City of Coeur d'Alene today (Aug. 16) to discuss the scope of the project, says Tami Stroud, a Coeur d'Alene city planner.

The tower would be constructed on a half-acre parcel of land at the northwest corner of First Street and Lakeside Avenue, next to the nine-story Coeur d'Alene North Condominium structure and across Lakeside from the Coeur d'Alene Chamber of Commerce building, Stroud says.

The tower, as proposed, would have 12 stories and a basement and would be 153 feet tall, she says, adding that the city's height restrictions would allow a building up to 200 feet there. A vacant, two-story former apartment building that occupies the site would be demolished to make room for the tower.

One Lakeside, which owns the property, is a subsidiary of Austin Lawrence Partners LLC, a longtime development company, also of Aspen.

Greg Hills, founder and president of Austin Lawrence, says of the proposed tower, "I think it will fit in with neighboring buildings. After we meet with the city, we'll know whether we're on the same page or if we have to go back to the drawing board."

Hills says the tower would be Austin Lawrence's first development in North Idaho.

"We're in the process of going through the city and trying to figure the appropriate way to do this," he says. "We're a little unfamiliar with the process there, and we'll see how it works out. If it's approved, we'll go on to more specific design concepts."

Denver-based Oz Architecture is designing the project, Hills says. A contractor hasn't been selected for it yet. Depending on how the project flows through the planning process, work on the ground could begin during the 2013 construction season, Hills says.

"We'd love to be able to start something in April or May of next year," he says.

Hills says the structure would have 90,000 square feet of multifamily housing and 42,000 square feet of parking.

"I think the opportunity is there to provide nice rental housing in the urban core," he says.

The project would include one- and two-bedroom units—and likely some larger units, Hills says.

"We think there's a market for larger units for people who want to sell their homes and want to be in downtown Coeur d'Alene, but can't fit into a 1,000-square-foot unit," he says.

He also says he expects the project would attract residents from outside of the area.

"It's not a deep market, but a lot of people across the country want to move from suburban to urban settings," he says. "They want to be closer to restaurants, shops, and activities where they recreate."

The developer also envisions potential retail use, such as a restaurant on the street level of the building.

"We'd like to provide amenities not only for the building, but for drawing people downtown," Hills says. With the project's location near Coeur d'Alene City Park and the city's business district, "There could be an opportunity for a food situation," he adds.

Austin Lawrence Partners specializes in acquiring and redeveloping commercial, multiresidential, and historic properties. The company's projects include the 200,000-square-foot Park Plaza Shopping Center, in Los Angeles; the 240-unit, Cove at Copper Lakes apartment complex, in Columbus, Ohio; and the 22,000-square-foot Christina Lodge multiresidential housing project, in Aspen.