The largest LGBTQ nightclub in the District will shut its doors next year.

The owners of Town Danceboutique, a popular nightlife spot for students located in D.C.’s Shaw neighborhood, announced Tuesday that the club will close July 1, 2018. The property was bought by a developer in the spring of 2016 with plans to turn the space into an apartment complex, the club’s owners said in a statement posted to Twitter.

The owners said the club had been a “significant part of D.C.’s LGBTQ community.”

“We are proud that we are most likely the first place many people heard a Lady Gaga song or experienced a “RuPaul’s Drag Race” drag queen,” owners said in a statement. “And we are most proud to be the place that many people first felt comfortable being who they are and the place many in our community felt the most safe expressing themselves.”

Town has been in business for more than 10 years on 8th Street NW. The club plans to host a series of events in the coming months to mark its last year in operation.

The property was sold to a developer, Jefferson Apartment Group, last year, the Washington Business Journal reported. The group purchased four parcels between V Street and Florida Avenue for $25 million.

Last year, after the sale, a Town representative told the Blade, that the nightclub had a solid lease contract and expected to stay open for years to come.