A mixed-use development is planned for several parking lots near the Statehouse. Photos by Brent Warren.

A plan is afoot to redevelop three acres of prime real estate on Capitol Square, but details on what the project might look like are still scarce.

Elford Development and Capitol Square, Ltd. sent out a press release on Friday announcing their plans “to create a vibrant, mixed-use development including retail, restaurant, office, multifamily, and parking garage components” at the the northeast corner of Third and State streets.

“We’re excited to see a high impact mixed use development of this critically important block become a reality,” said Chris Ruess, President and CEO of Capitol Square, Ltd. in a statement. “The Elford team has led the development of several truly unique and highly successful mixed use projects here in Columbus, and brings the perfect blend of development and construction expertise that this site commands.”

Capitol Square sold the Columbus Dispatch to Gatehouse Media in 2015 but retained significant real estate holdings around downtown. The company recently renovated the newspaper’s former office building at 34 S. Third St.

Included within the footprint of the proposed development is a former bank building at 66 S. Third St., the two parking lots to the north and south of that building, and a large parking lot on South Fourth Street, north of the YWCA.

The project has not yet been submitted to the Downtown Commission, which would need to approve any plan for the site.