CLEVELAND -- Plans for the $520 million redevelopment of the east bank of the Flats were unveiled Thursday at City Hall.

The site being developed by the Wolstein Group will be home to nearly a dozen new buildings, including the Cleveland office of the accounting firm Ernst & Young.

The chairman and CEO said the move honors the firm's long history in Cleveland, which started in the city more than 100 years ago.

"As meaningful as Ernst & Young's history is here in Cleveland, I am delighted to formally announce that we are tying our future to Cleveland as well," said Jim Turley.

The firm's 1,200 Cleveland employees will inhabit the new space in three years.

City officials also said they will be getting a $4 million federal grant to bring a full-service grocery store to the Flats, a first for downtown Cleveland.

The name and location of the grocery store have not yet been announced.

Some construction workers slated to work on the Flats redevelopment project said their group will begin demolition as early as next week.