(ABC 6 News) – Neighbors gathered together as they learned more about the future of the residences of the old Rochester town hall building.

After the plan to turn it into a homeless shelter fell through, Olmsted County HRA housing director David Dunn shared the new plan with neighbors in the area.

The proposed plan revealed tonight would turn the Roth building into affordable residential apartments.

There will be a total of 55 housing units.

The building would target support to young adults from 18 to 24, those with disabilities or over the age of 65, and anyone looking for affordable housing.

After failing to secure the money needed to transform the building to a homeless shelter, many in the neighborhood believe this is a good plan.

“We got a number of people who are on tight budgets, and they need the safety and affordable housing that we provide there,” Jeff Allman said.

Olmsted county housing director David Dunn plans for everyone who stays at the building to have a lease with a monthly rent of $800.

The project itself would cost around $5 million to acquire the building without any major changes.

The county also looked at possible ways to get that money.

“Some county HRA reserves, so county funding reserves, also looking at getting a loan for part of it as well, so we can kind of balance our needs currently versus needs in the future, to maintain our strong financial position,” David Dunn said.

The HRA board will need to make a final vote in February to move forward with this project.

Dunn hopes the county will acquired the building as soon as April.