The University of Michigan Board of Regents voted Thursday to approve the construction of a $250 million UM Center for Innovation (UMCI) in Detroit.

Earlier this year, the university announced commitments to the center including a $100 million donation from billionaire donor Stephen Ross, a $100 million grant from the State of Michigan and an additional $50 million raised from donors.

The plan for the center originally called for it to be on the site of the failed Wayne County Jail project near Greektown, which is owned by Bedrock. However, in 2021, the university and Olympia announced it will be built in The District Detroit.

The location is on a four-acre parking lot between Cass Ave. and Grand River between Columbia St. and Elizabeth St.

In all, it’s expected to be three buildings, anchored by a 200,000 square foot research and education center operated by the University of Michigan. It’s expected to cost around $250 million to build it. A second building will be a technology incubator in the former Loyal Order of the Moose Lodge at 2115 Cass Ave. and a third building is being constructed and expected to create 300 units of housing along Cass Ave.

“Our founding as a university traces back to Detroit, so it’s fitting that we reinvigorate and build on our commitment to the city through this center,” U-M President Santa J. Ono said in a statement earlier this year. “UMCI is essential for our future. We are searching for a new director who will be a critical voice within the community, as well as an essential liaison with our many stakeholders in Detroit.”

The board also authorized the architect appointment and limited construction contracts, and they expect to break ground by the end of the year.