MADISON, Wis. -

A 127-unit mixed use apartment building would replace the former Department of Corrections office on East Wilson Street, according to a developer proposing the project.

McGrath Property Group and Inventure Capital said in a release that plans for the 14-story building at 149 E. Wilson St. were recently submitted to Madison city officials.

"Downtown Madison is a highly sought after location to live, with relatively few high-quality rental options,” developer Lance McGrath said. “This project will help meet that demand and complement the proposed Judge Doyle Square project.”

The apartments would be targeted at professionals, young families and empty nesters, according to the developers. It would also include 2,300 square feet of street-level commercial space and 129 parking stalls.

Residential units will range from studios to three bedrooms and include views of Lake Monona and downtown.

Final city approvals are expected in Jan. 2014 and construction is slated to begin in early February, according to the release. The building will be ready for occupancy on June 1, 2015.