A co-branded IHOP-Applebee’s Bar & Grill restaurant will debut in Detroit late next year, parent company DineEquity Inc. has announced.

The eatery will be the first hybrid concept introduced by the Glendale restaurant group. Applebee’s franchisee TEAM Schostak Family Restaurants in Livonia, Mich. will own and operate the 300-seat location, which is expected to employ more than 100 workers. The menu will incorporate fare from both restaurants, including IHOP’s buttermilk pancakes.

“In 2007, DineEquity brought Applebee’s and IHOP under one franchisor,” Julia Stewart, DineEquity chief executive, said in a prepared statement. “Now, 10 years later, we are equally excited to bring these two brands together for the first time under one roof.”

The restaurant is slated for a 12,000-square-foot space in Detroit’s Millender Center, pending city approval. The building is part of the General Motors Renaissance Center, the global headquarters of General Motors Co.

The new concept was announced after trading hours on Wednesday. Shares of DineEquity (DIN) rose 44 cents, or less than a percent, on Thursday to close at $79.07 on the New York Stock Exchange.