DETROIT (CBS Detroit/AP) -- Changes are coming to the long-vacant and historic Fisher Body Plant 21 in Detroit.
Officials say the building will be redeveloped as new apartment units, of which 20% of it will be affordable housing and also include retail space.
Mayor Mike Duggan announced Monday that the $134 million construction project is expected to begin later this year.
"For much of that time, demolition seemed like the likely outcome because the idea of finding a developer willing to renovate and reuse it seemed impossible," Duggan said.
Gregory Jackson of Jackson Asset Management, Richard Hosey of Hosey Development, and Lewand Development are taking on the Fisher 21 Lofts project, which is believed to be one of the largest African-American-led projects in the city's history.
The steel-reinforced concrete factory was built in 1919, according to the city.
It closed as an auto factory in 1984 and later was used for industrial paint operations. The building has been abandoned since 1993. The city of Detroit took over its title in 2000.
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