The Birmingham City Council has approved the sale of 222 acres near Lakeshore Parkway to Green Meadow Apartments LLC, which will redevelop the property into single-family, multi-family and senior housing.

The city will receive $1.5 million for the property, which is located at 1911 Tiger Walk. General contractor Michael German, the former Alabama field office director for the U.S. Department of Housing and Urban Development, has represented Green Meadow Apartments at council meetings. He told councilors that the proposed development will include a park, walking trail and a town center — including a grocery store and a community center — and compared the development to the nearby Ross Bridge community.

Green Meadow is a minority developer, and Cornell Wesley, the city’s director of innovation and economic opportunity, described its project as potentially transformational for the city.

“We are looking at what I believe to be the largest economic impact led by African Americans in our storied history as a city, that being over $100 million worth of economic impact and investment in our area,” Wesley said. “We’re excited about this opportunity.”

The development is expected to create 240 permanent jobs and another 2,000 temporary construction jobs.

Developers showed councilors a broad map of the development at the March 1 economic development committee meeting, though more detailed planning will happen after the sale is completed.

Residents at Tuesday’s council meeting expressed concern about the traffic that the development would bring to the area; urging developers to build more points of ingress and egress to prevent congestion.

At a press conference after Tuesday’s council meeting, Wesley said the project “is a message to the entire country that African American and minority developers have a place in Birmingham, and we are aggressive and intentional of supporting their efforts.”

Developers hope to begin construction on the project in the next two to three years.