LANSING — Before the end of the year, people could call Oliver Towers in downtown Lansing home.

It would be the first time in nearly two decades.

The eight-story building at 310 N. Seymour Ave., which was damaged by a fire in 2000, is set reopen in November or December.

Mark Clouse, general counsel for the Eyde Company, which purchased the property in late 2015, said the developers have spent the last year working on interior tear-out and environmental remediation.

“The major focus has really been, for the last 12 months ... just getting the building ready for construction," he said.

The building was constructed in 1970, according to online property records.

While it isn't considered historic, Clouse said, the developers wanted to preserve the building instead of demolish it. Overall, the renovation project will cost about $14 million, Clouse said.

“We like to reuse instead of tear down and start over," he said. "It’s not always possible."

Of the 96 apartments in the building, eight have two bedrooms, Clouse said. Most of the apartments will be one bedrooms ranging between 450 and 600 square feet. The project will also include 4,500 square feet of retail space.

The project, along with the under-construction Metro Place development on the former downtown YMCA site, could bring hundreds of additional residents to the downtown.

More people living downtown could bolster downtown businesses and bring in additional restaurants and retail, Lansing Mayor Andy Schor said.

“(Businesses) want sustainability," he said. "The old criticism was that there was nothing happening nights and weekends. If you want businesses open on nights and weekends, we need residents.”

Contact reporter Haley Hansen at (517) 267-1344 or hhansen@lsj.com. Follow her on Twitter @halehansen.