A new luxury apartment complex is under consideration to replace the former Shaw’s supermarket building at 61 Locust St.

Medford Community Development Director Lauren DiLorenzo said the property’s owner, Equity One, Inc., has had preliminary discussions with the city about redeveloping the site with a large-scale luxury housing project.

DiLorenzo said the company had initially planned to sell the property but is now considering a residential development, which would require a zoning variance and site plan review.

The city has expressed to the company that it would want the complex to include mixed-use components, such as retail and restaurants, though it is uncertain whether the company would include such features.

“I expect that the proposal would be mostly residential,” DiLorenzo said.

Shaw’s closed the store in February 2014, and the 60,000-square-foot building has been vacant since.

Equity One has yet to file plans with the city for the property. DiLorenzo estimated the company would present official plans in March or April.

If the project moves forward, it would join the neighboring Lumiere apartment complex, which opened in fall 2014 with 163 luxury units.