MADISON, Wis. -- Fleming Development presented plans Wednesday to develop a unique condominium project near the University of Wisconsin campus.

The 12-story mixed-use building would be at the corner of West Johnson and North Bassett streets.

The building would fit in with many other high-rise student apartment complexes, but the difference with this one is that it would be owner-occupied.

It's a trend that has been seen in other college towns, but the development would be a first of its kind proposed this close to the campus area in Madison.

"In part I think the developers out there realize that there is a market for the families of UW students who realize full well it's a great investment to have their son or daughter living with roommates in an owner-occupied condo," said Mike Verveer, downtown alderman for the city of Madison.

The developer told residents on Wednesday that it would also target young professionals who are looking for a more moderately priced condo in the downtown area.

The meeting was the first time the public heard about the project and it hasn't begun going through the city processes.

The developer said it would like to begin construction on the project in the spring of 2007 and open in October of 2008.