A closely watched potential redevelopment project takes a step forward Tuesday night if the Wilmington City Council approves a resolution to ask for proposals from developers.

The site, referred to as the Water Street facility or Water Street parking deck, is located on 1.22 acres at 200 N. Water St. between Grace and Chestnut streets in downtown Wilmington, according to its description a Solicitation for Development Program (SDP) document. The solicitation was put together after the city contracted with the University of North Carolina School of Government’s Development Finance Initiative (DFI) last spring to find the best uses for the property, described as “one of the few remaining prime redevelopment sites in the city center” by the SDP document.

The redevelopment plan endorsed so far by city officials includes these elements:

Parking: 600-650 spaces in an above-ground structured parking deck, with 325 public spaces;

Residential: 175-225 units, partially wrapping the parking;

Retail: 18,000-22,000 gross square feet at street level, which can include residential amenities;

Connections to public realm: Site to be integrated with Bijou Park and all adjacent rights of way, including Chestnut Street, which would be reopened from Front Street to Water Street.

“The inclusion of a high quality hotel component in the program is allowable for development teams who can demonstrate market viability, financing, and integration into the overall project,” states the SDP document, which is available on the City of Wilmington’s website, www.wilmingtonnc.gov, as part of supplemental materials for the City Council’s Tuesday night agenda.

City officials have also said they would consider supporting efforts to increase the maximum height allowable by the site’s current zoning designation of Commercial Business District “based on the quality of the proposed design for the project. According to DFI’s massing study, one to two floors of additional height could be approved,” the SDP document states.

If the City Council approves the resolution, development proposals would be due by 5 p.m. Oct. 17. DFI will evaluate the proposals before making a final recommendation. According to the tentative timeline provided in the SDP document, a private development would be chosen by November, although that timeline is subject to change.