SAN DIEGO (CNS) - The San Diego City Council Monday gave a unanimous green light to downtown San Diego's latest high-rise project, a proposed 45- story building on the northeast corner of Broadway and Pacific Highway.

The plan by Bosa Development includes nearly 300 residential units, around 15,000 square feet of commercial space and about 450 parking spots. The building is designed to be almost 500 feet tall and will include 62,000 square feet of floor space.

A public plaza and a widening of the walkway along Broadway down toward the waterfront are also part of the plans, according to Civic San Diego, which handles development projects for the city.

The developers will also fund a study on the feasibility of installing landscaped medians along Pacific Highway. Area residents and city officials want the medians as a way to beautify the stretch of roadway north of Broadway, but might not be viable because of a San Diego Gas & Electric transmission line in the area.

The council members approved amendments to a development agreement, the Downtown Community Plan and Centre City Planned District Ordinance. Together, the actions will allow construction to begin 15-18 months earlier than under the previous agreement, according to Civic San Diego staff.

Construction work is projected to generate more than 1,200 construction jobs and 71 permanent positions.