Above is a rendering of the Lake & Hiawatha Station Development [follow the link for more images].
They plan to build in four phases. Phase I is planned for construction beginning next fall, and will include 45k sq. ft. of space for the Midtown Farmers Market, which currently utilizes the space, as well as 225 market rate apartments.
The other three phases will include office and retail space, senior housing, and additional market rate housing.