CORRECTION: An earlier version of this story indicated the wrong date for the meeting. The public information meeting on Ram Development Company's plans for downtown Chapel Hill will take place today at 5:15 p.m. at the Town Hall.
CHAPEL HILL - The Town Council has approved a contract with Ram Development Co. to build a condominium tower on a downtown parking lot, but the council still needs to approve the development plans.
The first step in the permitting process will take place at 5:15 p.m. today, when Ram will present its plans at a public meeting at Town Hall.
Ram plans to build an eight-story complex totaling 275,715 square feet, including 137 condominiums and 28,540 square feet of retail. The town has agreed to pay $7.25 million to pay for public underground parking on the site.
The council still must rezone the nearly two-acre site to accommodate the project's planned 104-foot height. Under current zoning, the height limit would be 90 feet. A newly created zoning district, applied first to the site of the proposed Greenbridge development in downtown's West End, would allow the tower to reach 120 feet.
The council also must approve a special use permit. The council already has agreed to expedite the process, which could conclude by the end of this year.