New plans for a development of 15 flats on the site of the former Station Hotel in Kirkcaldy are expected to be submitted later this month.
The proposal is the latest in a whole series of plans to develop the site, which has been lying empty and boarded up since the Station Court care home closed in 2007.
But owner Robert Kilgour believes his latest plans are the most promising to date.
Mr Kilgour said: “It’s a much lower density development than anything we’ve considered before.
“We’re looking at two buildings, the larger one with 10 flats and the smaller one – nearer the Adam Smith Theatre – with five flats.
“We’re planning to demolish all the add-ons – the extensions – and taking it back to the original buildings.
“It will really open up the site and I’m really enthusiastic about this project.”
The flats will all be at least 1000 square feet in size. They will have two or three bedrooms, a study and large open plan areas.
In the larger building, two flats on the lower ground floor will have their own private gardens, while other flats will have balconies of varying sizes and styles.
In the smaller building, there will be two flats on the ground floor, one with its own garden, two on the first floor, and a large penthouse with rooftop terrace on the top floor.
The development will also include a communal garden and parking spaces for up to 20 cars.
Mr Kilgour said preliminary talks with Fife Council’s planners had been encouraging.
He added: “If we can get planning permission, I’m quietly confident we can get the necessary funding to make this happen.”
Earlier this year, Mr Kilgour secured planning permission, subject to a legal agreement, for 30 retirement flats, but has been unable to get a backer for this project.
Other proposals in the past for housing developments, care homes and even a cinema have failed to materialise for a variety of reasons.