Developer MRR Palmer Square and architect Hirsch Associates have filed a zoning application transform a four-story building located at 310 N. Peoria St. in Fulton Market into a boutique hotel, according to Curbed Chicago.

The developer and architect plan to do an interior gut rehab of the building and add a fifth floor, according to the report. The boutique hotel will have 28 guest room, as well as 3,000 square feet of commercial space on the ground floor. That space will likely be used for a restaurant.

The building currently has commercial zoning. The project leaders have filed an application to have that zoning changed to downtown mixed-use zoning, according to the report.

Curbed Chicago pointed out that this hotel will be one of quite a few in Fulton Market. The neighborhood is also home to Ace Hotel and the SoHo House, as well as a number of in-development hotels.