Rochester, MN (KROC AM News) - The proposed Alatus project was approved Thursday by the DMCC Board and goes before the Rochester City Council next Monday.

The large residential and commercial project would be built along 2nd St SW, west of St. Marys Hospital.

The board’s approval is contingent on the final financial plan for the project, something expected next month.

The City Council will hold a public hearing on the project Monday evening. The project includes a tax increment financing request for $10.5 million. The council also needs to act on a request to expand the DMC development zone to accommodate the project.

The DMCC Board was also briefed on two proposed downtown projects.  

One involves a residential housing project that would be built on the US Bank parking lot between 1st Ave and Broadway. The other is a 17 story apartment and hotel project at the current Days Inn site.

Both projects were reviewed Wednesday night by the city Planning and Zoning Commission. The commission voted 4 - 3 against the larger project. The city council is expected to review the projects next month.

The council will also have to decide the fate of the Days Inn property because of its historical significance to the community.