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and Joe Weston are considering embarking on the development of a high-rise condominium project in the Pearl District.

The project would have approximately 165 units and could be as tall as 28 stories. An early assistance land-use intake also mentions ground-level retail and above-grade parking. The development would be located on the block of land between Northwest Northrup and Overton streets and 10^th and 11^th avenues.

Tiffany Sweitzer, president and partner of Hoyt Street, said the market for this type of product is showing positive signs of improvement. She was careful to point out, however, that the team will be seeking design review approval before it decides to move forward.

鈥淭here is no new condo inventory in the Pearl, with The Encore mostly sold out (83 percent),鈥� Sweitzer wrote in an email. 鈥淭he new three acre park The Fields, is scheduled for completion early next year and other rental projects will be starting in the area or are on the drawing board. Therefore, we think it is a good time to start something new. Pending the market once we get through the city process.鈥�

Sweitzer pointed out that the block is already served by the streetcar service as well. There is no contractor on board yet, but the development team has hired as its designer.

Hoyt is also in the process of selling Block 27, at Northwest Raleigh Street and 13th Avenue, to San Francisco-based affordable housing developer BRIDGE Housing. BRIDGE plans to build a 185-unit, mixed-use multifamily project on the site.