A groundbreaking ceremony is scheduled for Friday on the $22 million redevelopment of the former "Hammer and Nail" building — one of the tallest in Midtown.

The event for the conversion of the 12-story Professional Plaza building at 3800 Woodward Ave., perhaps best known for the illuminated hammer-and-nail action atop its 12 stories, is to begin at 10:15 a.m. Friday.

Detroit-based The Roxbury Group is the developer behind the project, which calls for 72 apartments and 2,000 square feet of first-floor retail space to be completed by the end of 2017.

Quinn Evans Architects Inc., which has offices in Detroit and Ann Arbor, is the architecture firm and historic consultant on the project and Eastpointe-based The Monahan Co. is the construction manager.

The project was announced in January 2015. The building was built in the mid-1960s.

Scheduled to speak at the groundbreaking ceremony are Mayor Mike Duggan; Gregory Tedder, deputy director for finance and operations for the Michigan Economic Development Corp.; John Carter, president, Michigan Middle Market, J.P. Morgan Chase & Co.; Melinda Clemons, senior loan officer for Capital Impact Partners; Sue Mosey, executive director of Midtown Detroit Inc.; and David Di Rita, principal of Roxbury Group.

A previous version of this story misidentified the construction manager. This version is correct.