A modified proposal to redevelop a tract near the southern end of one of Newark’s busiest corridors could potentially gain approval tonight.

New Broad Street, LLC is seeking to construct a five-story residential development at 1213-1221 Broad Street and the neighboring property at 124 Miller Street in the city’s East Ward. A legal notice written by New Broad Street, LLC managing member Fausto Simoes, a Newark attorney who is currently facing a federal allegation of bank fraud conspiracy, and issued by City Hall states that the building would include a total of 60 units, with 15 on each of the upper four floors. The first floor of the development could contain parking and the existing structures at the site would be torn down.

The Newark Zoning Board of Adjustment (ZBA) is scheduled to hear the application for Preliminary and Final Site Plan approval for the project during its meeting tonight, Thursday, June 28 at 7:00 p.m. Six variances are being sought, including use and insufficient parking.

Last year, the company went before the ZBA seeking approval for a similar five-story project with 72 units and 42 parking spaces. However, minutes from the meeting show that 21 objectors were in attendance and despite the board voting 4-3 in favor of granting approval, the application was denied since state law requires five “yes” votes.

The site, which is situated around halfway between the Newark Liberty International Airport terminals and Downtown Newark, contains a house and an automotive dealership called El Souly Motor Cars. Although the neighborhood is a distance away from train, PATH, and light rail service, it is served by local and long distance New Jersey Transit buses.