Image courtesy of Khalsa Design

Another major multifamily project is proposed for a rapidly evolving section of Everett’s former industrial district.

MC Elm LLC, which lists developer William Thibeault as manager, is seeking approval for 190 apartments at 99 East Elm St.

The 1.4-acre site is located in Everett’s commercial triangle zoning district, where thousands of apartments are proposed or under construction following the city’s rezoning of the area once filled with warehouses and salvage yards. The property is adjacent to 85 Boston St., where multifamily developer Greystar broke ground last summer on a 650-unit apartment complex at a former recycling facility on a parcel it acquired from Thibeault Development.

The Elm Street Residences developers propose 114 podium parking spaces to serve the complex. Designed by architects Khalsa Design of Somerville, the 6-story building would include 40 studios and 140 one-bedroom units.

MC Elm LLC acquired the property in 2006 for $2.2 million, according to data compiled by The Warren Group, publisher of Banker & Tradesman.

The Everett planning board will review a site plan and inclusionary zoning special permit for the project on Monday. Developers propose 29 income-restricted units.