Alterra Property Group plans a 170-unit midrise apartment building on land it plans to acquire from the city across the street from the Acme supermarket in South Philadelphia’s Passyunk Square section.

The apartments, 42 of which would be designated for low-income renters, would rise along 12th Street at Reed Street, just south of Alterra’s existing Wharton Lofts project in a converted school building, according to plans shared with The Inquirer.

Alterra managing partner Leo Addimando told a community group Monday that the seven-story apartment building’s ground floor would house a 20,000-square-foot grocery store, WHYY’s PlanPhilly website reported.

The roughly two-acre property is currently occupied by a fire station and a building formerly used by city vehicle-maintenance crews, as well as by a police station that will not be affected by the redevelopment.

Under Alterra’s proposal, the firehouse would be cleared from the site where the new apartments are planned and would be rebuilt beside the police station, while the maintenance building would be renovated as office space, according to the plans.

The apartments would house a 59-space parking garage for residents. About 100 new public parking spaces would be created at the site and at a separate city-owned property across Reed Street.

Alterra was selected to acquire the city-owned property for development through a competitive public solicitation. The purchase price has not been disclosed.