ST. LOUIS - Big plans are underway in St. Louis as the city moves forward with a development project designed to create new housing options.

On Friday, the St. Louis Board of Aldermen approved two major bills. One of those, Board Bill 108, is drawing significant attention. It calls for a transformative industrial development project, which is currently scheduled to break ground in the Cortex district in January.

Alderman Michael Browning, who sponsored the bill, stated that a $42 million project will bring a 173-unit apartment complex near Clayton Avenue and Sarah Street. He says plans for new development have been sought since 2022, but were delayed due to high interest rates and rising construction costs.

At least 17 units will be designated as affordable housing for individuals earning at least 60 percent of the city's median income.

Advocates are hopeful this will add affordable options near major employers like Microsoft, BJC. Ikea and the MetroLink.

The bill also allows for a sales tax exemption on construction to help ease costs.

In a related bill, Board Bill 90 allocates a cybersecurity grant for the City Emergency Management Agency totaling nearly $200,000 to ensure stronger communications systems in the event of a disaster.

FOX 2 reached out to the St. Louis Mayor's Office for comment, but they had not replied upon publication of this story.