A pharmaceutical plant that’s closing in Baker could be replaced with an apartment complex.
Austin, Texas-based Cypress Real Estate Advisors submitted design review documents to the city in late April, indicating the company wants to redevelop the site where Upsher-Smith Laboratories currently operates at 301 S. Cherokee St.
Cypress is proposing a seven-story, 359-unit complex on the northern portion of the 5.2-acre parcel. The plans refer to the southern portion of the lot as a future phase of development.
The proposed complex would have 90 studios, 199 one-bedroom units and 70 two-bedroom units, according to the plans. There would be 374 parking spaces, some of which would be underground.
Minnesota-based Upsher-Smith Laboratories notified the state last May that it planned to close the plant.
A local Cypress executive did not respond to a request for comment. The company master-planned the redevelopment of Denargo Market, and also recently proposed a project next to the Sports Castle along Broadway in the Golden Triangle.
The Cherokee Street project is across the street from the former site of a Kmart, where Price Development Group is currently building a 354-unit apartment complex. AMLI Residential, a Chicago-based multifamily developer, paid $15 million for a site just east of that in early April.
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