It’s been a year and a half since we first learned of plans to redesign the corner of Church and Walker — converting 32 Walker, demolishing 34 Walker and creating a half new residential complex. And while not locked in, plans are moving forward.

The buyer who just closed on 32 Walker, the 1954 taxpayer on the corner that was the bar Belle Reve, is working on a deal to purchase 32 Walker, the L-shaped building that is also 309 Church known as the Paramount/Boltex Textile Company building, for the company that purchased it in 1966.

The Belle Reve building (aka 305-309 Church) sold in February for $5.25 million, with the deed signed by Damien Smith, the founder of Prosper Property Group.

The plan is six (!) luxury apartments carved out of 29,000 square feet over seven stories.

It’s best to look at the massing drawing below to understand: the dark grey is the existing L-shaped Paramount/Boltex building, and the light gray is the new construction. The idea is to merge these two into a single cast iron project. They developers would add a floor to the entire structure, which is within zoning limits, and that floor would get the crown that mimics the current one plus a glass penthouse set back from the street wall. The new structure would lose the fire escapes.

Crain’s reported last month that Prosper Property Group filed demolition permits for 32 Walker. More soon when the deal for 34 Walker closes.