By LEAH WEATHERSBY and CLAYTON PARK

On Monday, March 19, a settlement was reached between the Fremont Neighborhood Council and real estate developer Security Properties Inc. on the Fremont "Block 40" housing and retail building project planned for Fremont.

The development will be located on the northwest corner of N 34th and Fremont Ave. N., on the site of the Red Door Ale House building, which is slated to be moved in either late April or early May to a vacant lot located one block to the west.

According to a fact sheet issued by the Fremont Neighborhood Council, one of the citizens group's biggest concerns was that the six-story building would not fit with the character of the existing neighborhood. They were also concerned with the increased traffic that the building would add to the downtown Fremont area.

Securities Properties Senior Vice President John Marasco said his company agreed to double the $30,000 in traffic mitigation fees that City was requiring them to pay, but donating an additional $30,000 to the Fremont Neighborhood Council to be used for neighborhood improvements, as well as pledging its support of the council's efforts to create a non-profit community development corporation for the Fremont area. Marasco said his group will also support the council's efforts to lobby the City to rezone the Fremont area to allow housing to be built above existing industrial buildings.

Marasco said his company hopes to begin construction of the Block 40 project in June, with a completion date set for 16 to 18 months following the ground-breaking.

The project will include 128 apartments and two live/work studios, as well as 32,000 square feet of neighborhood retail space and 196 underground parking spaces. The apartments will be located in the building's top five floors, while the retail will be located in the building's ground floor.

The exterior of the building will be made to look like a series of individual buildings, each with a different exterior, and different color, in an effort to avoid having the building look like a massive monolith. The exteriors will be a mix of metal siding, wooden planks, brick and stucco, said Marasco. (