The LBRA offers tax incentives to investors of development projects on environmentally damaged land with the understanding that they would remove the pollutants from that land.

Currently, the project is focusing on the underground foundation of the buildings.

"The actual site is six feet below Michigan Avenue ... that's the lowest level in which any buildings can exist because it's in the floodplain," Stralkowski said. "So we're building an integrated parking structure that's going to be supporting the foundations for the buildings."

The completed project will contain hotels, living spaces, and retail spaces alongside parking areas.

However, it's unknown what exact businesses will move in.

"We'd be looking for some professional offices, maybe some spas. Things like that," Stralkowski said. "Potentially we could have some specialty retailers there. We're going to have about three or four new restaurants, we're also going to have some pop-up restaurants."

The project is in partnership with Michigan State University Trustee Joel Ferguson and developer Frank Kass.

"We meet with (MSU officials) regularly in terms of making sure there's a convenience in terms of any possible connection, that there's safety with any ability to move back and forth and between the property itself and west side of Brody Hall," Stralkowski said.

With Michigan in a state of emergency, concerns that COVID-19 could delay constructions have emerged.

"We will adhere to any and all safety guidelines/orders per local, county and state government directives as it relates to this public health emergency of COVID-19," Stralkowski said. "The health and safety of all of our workers is our first order of business. This is an evolving crisis that has just begun to effect the day to day operations of many businesses and agencies. We will react accordingly and responsibly."