The 5-acre site where the decaying and long vacant Oak Grove Elementary School now stands in South Side is on its way to becoming a complex of apartments and townhouses.

Monday night, City Council voted 8-0 to approve the proposed sale of the building and grounds to Lynx Ventures, which plans to develop at least 220 income-restricted apartments and 15 new for-sale residences on the property at 2200 Ingram Ave. in the Oak Grove neighborhood.

Lynx won the nod over a nearby church that sought to buy the school to provide expanded space for its day care program.

Lynx Ventures previously indicated that $55 million would be invested, though the ordinance states that company would invest $45 million and secure $20 million in government low-income tax credits and other resources to finance the development.

Barbara Starkey-Goode, president of the Oak Grove Civic Association that opposed the plan, urged council members to continue the ordinance so that opponents who were unaware of the scheduled vote could appear at a later meeting to express their views.

However, the area’s council representative, 8th District Councilwoman Reva M. Trammell, said the development has the support of people living near the old school that was shut down in 2013 after a replacement school opened. The empty building has become an unofficial haven for the homeless and attracted prostitution and drug activity, she said.

Attorney Brian Jackson, who represents the development firm, told the council more than 100 people who live near the building have signed petitions or provided letters of support for the development.

Lynx Ventures has agreed to pay $500,000 to purchase the site from the city. A council ordinance requires the funds to be used for improvement of remaining school buildings.

Separately, the council also voted 8-0 to reverse an internal city commission’s rejection of Virginia Union University’s placement of lighted logo signs on top of the Vann Tower, part of the historic Belgian Building that is home to the school’s gym and arts programs.

The Commission for Architectural Review had deemed the signs too large, too bright and too out of character to be allowed in the city old and historic district where the Belgian Building sits.

The council also approved shifting $4 million to fully fund construction of a replacement fire station for the 110-year- old station at 2223 W. Cary St. The action is the result of construction bids coming in well above city estimates.