Construction is set to begin in the first half of 2024 for Onni Group's latest high-rise in South Lake Union, reports the Puget Sound Business Journal.

The proposed 41-story tower, planned for a site at 121 Boren Avenue N., would rise on a property which was formerly home to 13 Coins. Plans call for 432 apartments as well as ground-floor commercial space.

The estimate of a start date within six months comes from a representative of Onni Group who spoke at a public event on October 11. However, the Business Journal also notes that the project, valued at $100 million, has yet to receive a construction permit.

Onni Group's team on the project includes architecture firm VIA – A Perkins Eastman Studio, engineering firm KPFF, and landscape architect Berger Partnership.

The Vancouver-based firm reportedly paid $27 million to acquire the already-entitled site in 2022, and previously developed a three-tower complex across the street.