Plans for the proposed development, to be called Scholars Corner, call for an 11-story rental apartment building with 62 residential units and a new Osco Drug store on the ground floor, according to Stuart Handler, owner of Stuart Handler Real Estate Co., the developer.Scholars Corner will also feature a 91-space enclosed parking garage for tenants, a private fitness center and a rooftop sundeck, Handler said.

The new Osco Drug store is planned for the ground floor of a three-story retail/parking base building. The store is designed to replace the 23-year-old Osco Drug store that currently exists on the site.

Eight floors of rental apartments will rise from a landscaped roof terrace above the retail space. Plans call for 32 one-bedroom units and 30 two-bedroom, two bath apartments. Each apartment will have its own self-contained laundry facility.

Construction is expected to begin within the next several months. The building was designed by FitzGerald Associates Architects of Chicago.