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The site of the Hinks parking garage on Kittredge Street west of the library is targeted as the site of a new $50 million development with more than 150 rental apartments to be built next year. 

John DeClercq, senior vice president of Transaction Companies, Ltd, whose offices at 2065 Kittredge St. are across from the proposed development, said he expects to apply to the city for a use permit within a month. 

Transaction owns the block of property north of the proposed development, which includes the Shattuck Ten theaters and Mel's Diner. 

The apartment complex would be accompanied by parking to replace the 375 spaces that will be lost when the Hinks parking garage is demolished. The existing public garage, built in the 1950s, cannot support any additional weight above it. 

DeClercq said the complex would have four floors of apartments to be built over two and one-half floors of parking. 

He said in addition to the 375 replacement public parking spaces, the city code requires one parking space for every two apartments if there are no variances. 

One and one-half levels of parking are planned to be subterranean, he said. The other is half a level below that. DeClercq anticipates two entrances: Kittredge and Bancroft Way. 

Although Transaction has chosen an architect, Cox and Associates, the design and the exact number of apartments have not yet been determined. DeClercq expects the number to be between 150 and 200 units and it is likely they will be one- and two-bedroom apartments. 

The starting date is planned for January 2001, and the project would take from 12 to 18 months to complete. 

Parking will be a challenge during construction, and addressing that issue DeClercq said, "We will take care of people." He said Transaction is working with the city's transportation and planning departments to mitigate the loss of Hinks Garage during the interim. 

Bill Lambert, director of the city's Economic Development Department, said the proposed development "sounds absolutely wonderful." He said the proposed housing would add customers to the retail base and boost sales tax, as well as adding to the property tax rolls.