An artists rendering of a new $32 million dollar development in downtown Kokomo (Photo contributed)

KOKOMO, Ind. (WOWO): It's being called the largest development ever in the history of downtown Kokomo. 

Mayor Greg Goodnight announced Monday a $32 million plan to transform the Apperson Automobile Company building into a 200 luxury apartment and retail center. Construction is expected to begin in 2017.  

The building closed was abandoned in 2007, after more than 80 years as a warehouse. 

Mayor Greg Goodnight says the building will complement Kokomo's recently built baseball stadium.