“Lofts on Madison”

A developer sees 136 apartment units on five floors above ground-floor retail at Fifth and Madison Streets.

The “Lofts on Madison” would benefit from “targeted” tax increment financing. “We will extract it from the central area downtown tif and replant it in its own designated TIF,” said Ravi Doshi of the city’s Office of Planning and Economic Development.

Victor Salerno told the city’s Economic and Community Development Commission the apartments will be short of luxury but still appealing to, for example, people working in the medical district or historic district.

The city council will get a look at the TIF proposal Tuesday.