A portion of Main Street in downtown Ann Arbor will be closed next week for a lavish fundraiser for the University of Michigan's new children and women's hospital.

The already sold-out fundraiser June 17, called The Event on Main Street, will be a progressive dinner between several of the downtown Ann Arbor restaurants that are part of Main Street Ventures Inc.

All proceeds are going toward the construction of the $754 million U-M C.S. Mott Children's Hospital and Von Voigtlander Women's Hospital. It's part of a three-year commitment to fundraising to raise $1 million for the hospital, pegged to open in 2011.

The hospital is the largest construction project in Michigan and will include a 9-story tower for clinic space and a 12-story tower devoted to inpatient care.

According to the event's website, tickets were being sold for $450 a person or $2,500 for a package of four tickets, plus entry into a VIP party beforehand. It was limited to 400 people.

The city approved a permit allowing the one-block closure of Main Street between East Liberty and East William streets.

The event will run from 6 p.m. to 10 p.m. and will feature live music on Main Street, which will remain open to the public. Several nearby restaurants will be open to the public and may also plan to donate proceeds to the project.

The idea for the event came from Main Street Ventures, which has hosted progressive dinners on a smaller scale for the Michigan Restaurant Association, said Kevin Gudejko, director of operations for the restaurant company.

"It's something we felt strongly about. We do a lot of fundraising on a smaller scale but wanted to do something bigger," he said.

Tina Reed covers health and the environment for AnnArbor.com. You can reach her at tinareed@annarbor.com, call her at 734-623-2535 or find her on Twitter @TreedinAA.