The City Council of Ann Arbor, Michigan, has voted in favor of selling air rights to a project that is set to become one of the tallest in the city. The Collective is proposed to be a 17-story mixed-use development designed by Evanston, Illinois–based Myefski Architects and developed by Chicago-based Core Spaces.

The 352,000-square-foot development will include 360 residential units, 131 hotel rooms, 20,000 square feet of office space, and 3,000 square feet of retail space. At its base, a designed streetscape and 12,000-square-foot public plaza will interact with the building’s structure. Located in the busy Midtown District, the tower will also include terraces and balconies overlooking the public space.

The .8-acre site where The Collective will stand is above a city-owned underground parking garage. In 2015 the city requested proposals for the site, signaling that it wanted to sell the air rights for a development. The Core/Myefski team was one of nine to submit, and one of the two shortlisted. After a series of public input meetings, the current proposal was picked in early 2016. It took another 15 months of negotiations between the team and the city to arrive at this week’s vote. The approval means the city is willing to sell the air rights for $10 million. Five million dollars of that money is already earmarked for affordable housing in the city.

“The City and residents of Ann Arbor put this in motion many years ago. They had a vision for this dynamic downtown location that involved addressing the needs of the community,” said President and Principal John Myefski. “In addition to a placemaking, landmark building, this development is going to boost the quality of life for many Ann Arbor residents.”