Developer Bob Felker plans to build a five-story, 60-unit apartment building at the southeast corner of Wisconsin Avenue and Worthington Street in downtown Oconomowoc.
If approved by city officials, the project could break ground next spring.
Three vacant homes on the site would be demolished to make way for the new building.
The building would have 100 indoor parking spaces in a basement level and on the ground floor. The upper four floor would each have 15 apartments. Plans call for 44 two-bedroom apartments and 16 one-bedroom apartments.