321 East Harlem currently via Google Maps

A mixed-use tower is coming to East Harlem by real estate investment firm AvalonBay Communities. The tower is planned to rise 68 stories and hold three schools, retail space, and rental apartments.

Recently, the proposal for the large development was approved by Manhattan Community Board 11, but is still seeking the approval of City Council Speaker Melissa Mark-Viverito and also needs to address a few of the community's concerns.

The site at 321 East 96th Street is currently the school of Cooperative Technical Education and will be rebuilt as one of three new schools in the building. The 1.3 million-square-foot site will also have 20,000 square feet of retail space that will be at the base of the building as well as 1,100 apartments. The developers are planning to make 30 percent of the apartments affordable.

The developers are expecting to spend $550 million on the project in total, with a lease that will last 99 years. There hasn't been a set completion date yet, but now that the approval process has begun, the project could soon be on the verge of construction.