Livonia-based Schostak Bros. & Co. plans to build a $111-million, 16-story office building on Monroe Street downtown, the first new major office building construction in Detroit's central business district since construction on One Kennedy Square began in 2005.

The Detroit Brownfield Redevelopment Authority's nine-member board has reviewed a $27-million brownfield tax incentive plan for site preparation and infrastructure improvements for the building, which is expected to include first-floor retail space and a parking deck wrapping around Cadillac Tower facing Campus Martius.

The building would be 320,000 square feet. Its parking deck would house 1,000 cars.

The two-parcel development site at 32 Monroe and 825 Bates St. is bounded by Monroe, Farmer Street, Bates, Woodward Avenue and Cadillac Square.

The Detroit Downtown Development Authority owns the 1.96-acre site, and the city would have to approve building plans, according to a news release from the Detroit Economic Growth Corp.

The site is currently a parking lot, said Bob Rossbach, a public relations consultant for the DEGC, which staffs the redevelopment authority.

"We are pleased that a developer with a strong track record in southeast Michigan is interested in building something significant on this prime piece of downtown real estate," Art Papapanos, vice president for board administration at the DEGC, said in a press release.

The redevelopment authority board voted last week to hold a public hearing on the development on Thursday. The hearing will be held at 9 a.m. at the DEGC offices at 500 Griswold St.

After the public hearing, the redevelopment authority will review the development plans again and consider approval, Rossbach said.

Brownfield tax incentives are for the development of blighted, contaminated, obsolete or historic properties. In 2012, the authority board approved brownfield incentives for $95.2 million in Detroit investment on four projects totaling 700,000 square feet, according to the release.

Rossbach said in these types of development deals, the DDA typically sells the property to the developer.

A timeline for the building's construction is not known.

Calls to Schostak Bros. Director of Corporate Real Estate Services Jeff Schostak and David Johnes, vice president of the company's director of development and construction, were not immediately returned on Monday afternoon.

Kirk Pinho: (313) 446-0412, [email protected] Twitter: @kirkpinhoCDB