Portland’s Planning Board gave the green light this week to a proposal to build a new four-story low-income housing complex in Munjoy Hill.

The board voted 4-2 at its meeting Tuesday night to approve the proposed project at 42 Atlantic St. The property, which is less than a quarter acre in size, will be home to what documents describe as “30 affordable dwelling units.”

Local group LB Development has presented the proposal. Dan Black, a partner with the company, said the project includes eight two-bedroom units and eight three-bedroom units. The remaining units, he said, will be studios.

Rents will range from as little as just over $1,100 monthly for studios to $1,989 for a three-bedroom unit. Black said that the roughly $13 million project will be funded in part by low-income housing tax credits for investors. That means, he said, that 60% of the units must be made available to renters with a household income of 50% area median income or less. The rest, he said, will be made available to renters making 60% of AMI or less. 

Right now, the property has an old building on it that was most recently used as an American Legion post. The proposal includes demolishing the current building to make way for the new 10,000-square-foot construction.

The proposal, despite promising 30 new units of housing, does not include on-site parking. According to proposal documents, developers conducted a study and found it was not necessary to include parking.

“Given the development’s proximity to existing transit routes within 1,500 feet of the site, the generous bicycle room provided on site, and the availability of on-street parking, the project is not proposing on-site parking,” the proposal’s authors wrote. “If tenants wish to pursue off-site parking, there are private options or public on-street parking.”

City officials said the planning board is no longer involved, and developers can begin acquiring building permits. Black said a local resident may file an appeal of the planning board’s decision, so he wasn’t sure what the timeline for construction would be yet.