A new residential development could be constructed near two Newark high schools.

A legal notice from City Hall states that the neighborhood’s latest buildings being proposed are for the property at 535-541 Dr. Martin Luther King, Jr. Boulevard, at the southwest corner of William Street. The applicant, simply titled 535-541 Martin Luther King Boulevard, LLC, is looking to include 33 apartments, but the number of stories that would be included in the structure is not yet clear.

The Newark Central Planning Board was scheduled to hear the developer’s application for Preliminary and Final Site Plan approval with a variance for front yard setback during its meeting on April 9.

Currently, the site, which is located opposite Arts High School and Saint Benedict’s Preparatory School, contains a gated parking lot and a former bank. The building, which has recently contained the Newark Foursquare Church and the Rising Sun Day Care Academy, was initially home to the Hamilton Building and Loan Association. The words “Hamilton B&L Association” are still inscribed on the facade.

This is not the first time that a new development has been proposed for this Central Ward property. Several years ago, plans were revealed for a new six-story office building called the Donnelly Building that was set to be constructed on the premises. Although signs advertising the plans for an office building remain on the exterior of the existing structure, little progress was ever made on the proposal.