At the hearing, City Council will field comments and questions about the developments, which are aimed at moving away from strip-like development projects toward vertical density, Councilmember Roger Peters said.

One development, near the corner of Grove Street and Albert Avenue, would be an eight-story building adjacent to the Grove Street Garage, community development analyst Tim Schmitt said.

The buildings currently located at the site could be demolished for the mixed-use development, which is expected to have restaurants on the first level and 42 apartments in the upper levels.

Funding is a potential issue that might stand in the project’s way, Schmitt said.

“Anyone that has a good project should be approved,” he said. “You still have to go to the banks to prove that you’re still financially stable.”

It is too early to tell what finances will be like, as the earliest construction could begin is June 2011, said David Krause, a partner in Cron Management, which is seeking to develop the site.

“Financing is always an issue, but it’s much too early yet,” he said. “We still have to determine the cost and materials of the project.”

The project will look to improve the design of the building based on other high-rise projects in the downtown area.

“We try to do something better every time,” Krause said. “We’re pretty proud of our most recent development at Albert Condominiums. It needs to be done correctly, but we’re expecting something pretty spectacular.”

The second development would be in two phases and lead by Kris Elliot, who owns The Post, 213 Ann St.

The first phase would expand The Post to three stories, with possible restaurant seating on the roof, Schmitt said. The second phase would raze the buildings at 215 and 217 Ann St., which formerly housed the Mackerel Sky Gallery of Contemporary Craft, Schmitt said. The new building will likely be four stories with commercial businesses on the first two levels. The top two floors would be used for apartments — most likely lofts. With approval, construction might begin later this summer.

Elliot could not be reached Wednesday for comment.

East Lansing City Councilmember Kevin Beard said these could be great locations for student-based housing, but wants owner-occupied housing mixed into the downtown area.

“I really do believe we need more owner-occupied styles like City Center I and (what has been) proposed for City Center II, just because you need the mix in the downtown of those temporary student folks as well as longer-term residents patronizing the businesses,” he said.