The iconic Waters Building downtown Grand Rapids will evolve from an office building to a 107 room Hilton Homewood Suites hotel, a 42 room apartment building as well as a smaller office building.

Visser Brothers Development President Bill Mast tells WOOD Radio turning the 115 year old building to a hotel /apartment building fits a need downtown.

"There has been a gap in the downtown offerings for an extended stay. This hotel is designed to answer that. The apartments aren't expected to compete with the hotel. We don't believe we are building too much of any one thing, which is our plan."

Plans for move current office tennants to other areas within the Waters Building will begin soon, the hotel and apartments should be ready by late 2015.