The Ingham County Land Bank board, which owns the vacant property at the corner of South Washington Avenue and Malcolm X Street, has approved the sale of the site to Urban Systems LLC.

The developer plans to build a Hilton extended stay hotel, which would include a restaurant. Site plans include a public green space by the riverfront. It will be on the site of the area's famous REO sign - REO was a car manufacturer which closed in 1975.

The hotel woill have between 120 and 130 rooms, and the project would cost between $10 and $15 million, said Jeff Deehan, one of three principals at Urban Systems.

Deehan said: "We have a greater vision for Lansing that includes connecting many of the existing districts together and making it a highly walkable and highly bikeable community," Deehan said.