East Lansing Mayor Mark Meadows and Chicago-based Harbor Bay Estate Advisors signed the master development agreement for the project on Thursday, and preparations for demolition are expected to begin next week.

The $125 million project calls for a 12 story apartment building on the 100 block of East Grand River, with a small scale Target on the first floor.

Plans also include the construction of a 10 story building on the site of City Lot 1 behind the apartment building, which will have retail space on the first floor.

The project is one of the more complex the city has had in the past few years, said Tom Dempsey, East Lansing's planning director.  The Lansing State Journal has more.