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Big things could be in the works for two buildings near the east end of the Burnside Bridge.

According to city permits, a development group has applied for a pre-application conference to discuss construction of a 12-story building with 307 residential units at 139 S.E. Martin Luther King Jr. Blvd. The site presently holds a 103-year-old, 33,130-square-foot warehouse owned by the Salvation Army.

The charitable organization could not immediately be reached for comment, but according to the permit the project would require a type three design review, and include commercial, live-work and parking space on the bottom two floors.

Kitty-corner from that lot, Venerable Properties‘ property is in escrow. Craig Kelly, president and broker for Venerable Properties, said a potential sale could close sometime this fall. Michael Horwitz, a managing partner with Capital Pacific, is representing that buyer and said it is a Seattle-based developer who is considering a tenant-specific project.

Venerable purchased the 26,000-square-foot building – at 200 S.E. Martin Luther King Jr. Blvd. – in 2011 for $1.35 million, with plans for a $7 million renovation that didn’t pan out. According to Venerable’s website, the south half of the building was constructed in 1893 as a hay-and-feed facility, but it’s more widely known as the Salvation Army’s Industrial Home – a facility formerly used to provide work and shelter for unemployed men.