Two seven-story buildings (named North and South) covering almost 350,000 square feet will be constructed on what is now a large parking lot as the Durham Innovation District project picks up momentum.

One of the buildings is already leased.

Duke Clinical Research Institute (DCRI) has signed to lease the entire “South Building.” It plans to consolidate other operations around Durham to the new building.

The developers also plan to construct an eight-story parking garage.

Construction is expected to begin in the near future with completion expected in Spring 2017.

Longfellow Real Estate Partners, Duke University, Measurement Inc. and Duda|Paine Architects are partners in the project. The Durham ID was announced in 2014 with a projected investment of as much as $500 million.

“Longfellow is furthering its commitment to the innovation cluster in downtown Durham with our investment in the North and South Buildings in the Durham.ID,” said Adam Sichol, managing partner of Longfellow.

“By providing the places where talent can gather, work, live and play companies and people will continue to thrive here as our city centers become ever more vibrant. We look forward to working with the City, the County, our partners and our neighbors to make sure this project enhances the Bull City experience.”

The buildings will be mixed use with plans for retail space and restaurants.

The site is along Roney Street in Durham near the downtown farmers’ market.

Plans call for the Innovation Hub to cover 15 acres with an emphasis on technology and life science companies.

Two existing buildings have already been remodeled as part of the project – the Carmichael Warehouse and the 1916 Imperial Building.

“We’ve come to the ‘end of the beginning’ in terms of downtown Durham’s redevelopment. It’s no longer about restoring historic properties. With Durham.ID’s North and South Buildings as well as other projects, we enter a phase of new construction that will shape the future experience of the Bull City and the economy of the region,” said Scott Selig, associate vice president of real estate for Duke University, in a statement.

“Nationally, we’re pioneering new ways for university researchers and private companies to successfully interact and bring breakthrough ideas to market.”