SCRANTON, LACKAWANNA COUNTY (WBRE/WYOU) — In Scranton, it’s out with the old and in with the new.

Demolition crews began tearing down the old Red Carpet Inn along Franklin and Mulberry Streets Tuesday. In its place, the new owner plans to build the city’s tallest building at 17 stories.

It will be the future home of 250 apartments, 100 hotel rooms, a restaurant and retail space. The project will cost $60 million to $80 million and should be done in three to four years.