INDIANAPOLIS, Ind. (WOWO) — A long-vacant, graffiti-covered high-rise across from Shortridge High School is slated for a major transformation.

Developer TWG plans to convert the nine-story building into the Grand Meridian, offering nearly 100 affordable housing units.

The building has been vacant for over 15 years and is considered an eyesore by the community. The developer is seeking approval for a funding plan that involves a payment in lieu of taxes (PILOT) to finance the project.

If approved, TWG will step in to not only rebuild the structure, but to also revitalize the neighborhood. Renovations can start as early as this summer with the proposal going to the City-County Council for vote on June 9.