[Editor's note: This story was updated on Aug. 1]

Plans for the first five-star hotel in Minneapolis are beginning to take shape.

On Wednesday, Four Seasons Hotels & Resorts and developer United Properties announced plans for a Four Seasons hotel in the forthcoming RBC Gateway skyscraper at the corner of Hennepin and Washington avenues.

The 222-room Four Seasons hotel will feature a restaurant and bar, as well as a spa complex and a pool deck. Developers also plan to build 31 Four Seasons private residences with views of the city and the Mississippi River, according to a news release.

In the release, Four Seasons executive VP of global business development and portfolio management Bart Carnahan calls Minneapolis a “booming corporate hub in the Midwest.”

“Our partners at United Properties have envisioned a new luxury focal point in Minneapolis, and we look forward to helping them bring that vision to life,” he says.

Atlanta-based Smallwood, Reynolds, Stewart, Stewart and Associates will design the project. The new property could open as soon as early 2022.

United Properties paid $10.4 million to purchase the city-owned lot, city spokeswoman Sarah McKenzie confirmed in an email. The transaction closed yesterday, she said.

Though the developer has billed the RBC Gateway tower as a 34-story building, McKenzie notes that the city measures the project at 37 stories due to its overall height.

Meanwhile, the Star Tribune reported that the new structure will feature more than 530,000 square feet of office space.

Last month, TCB reported on plans for a 201-room hotel in an empty office building at 317 Second Avenue South in Minneapolis.