The plan to revitalize parts of the Old East Village, includes a third highrise.

Two residential Revo highrises by Medallion Corp. are already part of the village, now a third is in the works.  

Phase 3 of the project is still in the proposal stage, but the plans are to build another multi-residential unit at the corner of King and Lyle Streets.

“It's going to be a 21-story residential development - 299  units with a mix of one, two and three bedroom units,” says Sarah Merritt of the Old East Business Improvement Association.

“It's obviously going to bring more people to the area, which is beneficial to us because it's part of what we are doing with the overall renewal of the area. To get more people living on or around the commercial corridor.”

More people in the area will mean more business.

“For our business, foot traffic is foot traffic and it's great. So more people hopefully equates to more business for all of us,” says Missy Hertlein of the Starving Artist Bistro and Lounge.

There is no timeline yet for project startup, but the city's planning department is expecting a proposal soon from Medallion.

“So when you're looking at something like this, it could be three months. It could be up to six months. Depending on all kinds of factors, we aren’t completely in control of,” says Jim Yanchula.

He says if all goes as planned, this will be yet another positive step in the revitalization engine of Old East Village.

“It's awesome news for the area. I don't think people give it as much credit as it should for being an investment area of choice.”