KALAMAZOO, Mich. (WOOD) — A parking lot in downtown Kalamazoo will soon be transformed into a $70 million development.

Catalyst Development, LCC announced Thursday that it plans to break ground on the seven-story structure in July. The building will take over a portion of the city-owned Parking Lot 9 at the corner of E. Water Street and N. Edwards Street, and include two floors of housing, four floors of office space and a parking structure.

The building will house The Kalamazoo Promise and Communities In Schools, Inc. organizations, as well as Southwest Michigan First and the Warner Norcross and Judd, LLP law offices. At least five of the living units will be classified as “affordable.”

The development will include more than 300 public parking spaces, an increase from the current 280. The plan will also retain 80 spots in a surface lot on the west end of the current Lot 9.

The Kalamazoo Downtown Development Authority cleared the way for the project in February.

Work on the 290,000 square-foot building is expected to wrap up in June 2020.