The proposed parking facility would be built near the corner of Main Street and Wall Street.
The parking facility would replace a current lot that's across the street from the Midland Center.
The new Wall Street Lofts apartment complex is expected to be built on the site of the existing parking lot.
The 100-unit apartment complex would also have a retail building.
Midland city leaders say the proposed parking garage would have a total of 300 spaces for residents and the public.
The Midland City Council still has to approve the plans for the new parking lot at their November 13th meeting.