University City has selected Metropolitan Development Group to develop a $35 million residential and retail complex at Vernon and Kingsland avenues.

The proposed development, called Kingsland Walk, will include 98 residential units and 24,000 square feet of retail, said Lehman Walker, the city’s director of community development.

The complex, which will be located near Metcalfe Park, two blocks from the Delmar Loop, will receive $4.7 million in tax-increment financing from the city.

Metropolitan Design and Building Inc., Cohen Architecture Co. and Capital Mortgage Co. are all working on the project.

The project still requires the approval of the planning commission and the city council, a process that will likely take three months, Walker said.

To make room for the development, King’s Day Care plans to move from Kingsland to Olive Boulevard and a vacant Southwestern Bell facility will be demolished, he said.