LANSING, Mich. (WLNS) — A $215 million project that would create 450 new residential spaces downtown in the form of two new buildings and the renovation of the historic Washington Square building was just announced.

But the funds for the project aren’t confirmed quite yet.

The developer announced plans for New View Lansing, a $215 million affordable housing project that will “transform the city.” Gentilozzi Real Estate, in partnership with JFK Investments, is behind the idea.

$40 million is expected to come from state appropriations. Lansing Mayor Andy Schor is confident they’ll be approved.

But, is it the best way to use those funds?

That question has been asked by Lansing City Council President Carol Wood, who tells us they are just now learning about these plans.

“We are lacking a lot of information at this particular point. In the last 24 hours, additional information has come forward that we weren’t aware of before,” Wood said.

Wood says the city had the choice to conduct a bidding process for other developers to take part — but hasn’t done so.

“There was the potential to do a bid process, this is new to Council. We will be asking those questions; we will be asking the administration about a bidding process,” Wood said. “We’ll be asking all of those questions, our role as a Council perspective is an up or down vote on the dollars.”

City Council is still waiting for the resolution to come to them.

“It’ll be up to City Council to make the decision if they want to move it or not,” Schor said.

It’s important to note, City Council will be asked to approve the $40 million for this project — along with funding to restore Moores Park Pool and build a new City Hall.

All of it is state funding, and the City Council must accept all of the money or none of it. City Council meets again on Monday.