This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

(Memphis) Changes to the historic Hotel Chisca are about to get underway.

The 100-year-old hotel has been an eyesore to downtown, but the Main Street Apartment Partners LLC is ready to bring it back to life.

The group plans to turn the eight-story building into a mixed use commercial and residential development. The building will include 150-190 apartments, a ground-floor retail and restaurant space and a new parking garage.

A project launch party will be held tonight to kick off the $24 million project.

It starts at 4:30 p.m. in the Hotel Chisca site garage space on Main Street near Pontotoc Avenue. Free guest parking is available in the parking lot behind The Chisca at MLK Avenue and Mulberry.