The Capital Region Development Authority chose the Camden, N.J.-based firm Michaels Organization over three other bidders, the CRDA has announced. The firm estimates the project would cost $130 million and is asking for $27 million in gap financing and a tax abatement from the city. Michaels was tapped as the developer for the first phase of the plan, which calls for a mixed-use development on a 3-acre parcel of the broader area, near The Bushnell Center for the Performing Arts on Capitol Avenue. According to the proposal, Michaels plans more than 300 apartments and 15 townhouses across several buildings. Having been chosen as the preferred developer, Michaels can now move into the planning phase of the project. Michaels proposal indicates it could begin a two-year construction project in about 18 months.