There has been talk for a while about a new building at 312-322 Canal, currently the site of a wide, two-story retail building. The conventional wisdom, as espoused by a member of the Community Board 1 Landmarks Committee back in November, was that the project was on hold till the real estate market heated back up.

Perhaps not. City Realty has details on the current plan, which is for a nine-story building, most likely rental apartments, with a façade of red brick. The developer is presumably still Trans World Equities.

The stretch of stores on 312-322 Canal Street is finally being revisited by Paul A. Castrucci Architect after the team’s first proposal was denied by the Landmark Preservation Commission in 2011. Back then, the plan was to keep the retail but the design was deemed too bland for the lively area. This time around, their design is a for a residential, multi-family project that is slated to become Passive House–certified, [meaning it] must be primarily heated by passive solar gain and internal gains from people or electrical equipment, which saves up to 90% of space heating costs.

Here’s the rendering. No plans have been filed yet, and the project will be subject to Landmarks Preservation Commission approval.