× Thanks for reading! Log in to continue. Enjoy more articles by logging in or creating a free account. No credit card required. Log in Sign up {{featured_button_text}}

A New York-based development company finally has plans for a parcel of vacant land in downtown Richmond that it has owned since 2005.

Goodstein Development Corp. plans to construct a six-story building in downtown Richmond for 50 to 60 apartments and retail space or a restaurant on the ground level, said Lenny Bayer, chief operating officer.

The building would be constructed on what is now a gravel parking lot along the south side of East Main Street about halfway between Fifth and Sixth streets.

“We’re looking to finally do something there,” Bayer said.

Construction could start next year. Architectural plans are being drawn up and would need to be sent to the city for approval, he said. The project would be called Centennial Terrace.

The new building would be next to the Centennial Apartments, which Goodstein Development owns and renovated in 2016 at the corner of Sixth and Main streets.

The four-story building has 24 apartment units plus a business center and resident lounge. On the first floor of that building is Chicano’s Cocina Bar & Grill and 521 Biscuits & Waffles.