The Sherwood Center is coming down as a retail outlet and rising up as a 620-unit apartment complex as outlined in permits by Carmel Partners, a San Francisco-based real estate investment firm.

According to permit documents filed with the city, the wood-constructed Sherwood Center Apartments will be five stories — 920,000 square feet — with 800 underground parking stalls, and constructed over an above-grade retail podium.

Under Bel-Red zoning, 40 of the 620 apartment units will be priced at 80 percent of the average median income. The site is at 15400 N.E. 20th St.

The 60,000 square-foot retail center had previously been anchored by Trader Joe’s, which relocated down the street last year. Remaining businesses include Supercuts, Heidi’s Cleaners and Zenyai Noodle House.