By Paulina Pineda, The Press Democrat, Santa Rosa, Calif.

An out-of-town developer with financial backing from South Korean investors has been chosen to oversee buildout of a prominent downtown Santa Rosa property. The Santa Rosa City Council on Tuesday approved signing an exclusive negotiation agreement with LH Housing for the sale of the 1.3-acre city-owned parking lot on E Street between Second and Third streets.

The company proposes a mixed-use development with more than 300 apartments for residents earning between 80% and 120% of the area median income, according to the city, though few other details about the company’s vision have been publicly revealed. Mayor Mark Stapp said LH Housing’s focus on workforce housing stood out to the council and the project would fill a critical gap

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