It’s a major step forward for South Bend’s plans for the new downtown project called the “Madison Lifestyle District.”

The city’s redevelopment commission approved the project, pledging $24 million dollars, on Thursday. The district includes 240 apartments, a 100-room hotel, commercial space, and over 900 parking spots.

Along with Memorial Hospital’s new tower that is also in the works, it represents a $330 million investment in the downtown area.

The first part of the project is the demolition of the South Bend Medical Foundation building and that is expected to begin this year.