One of Tysons’ oldest remaining restaurants could be demolished to make way for a new residential development.

An application submitted to the Fairfax County Department of Planning and zoning this summer proposes replacing J.R.’s Stockyards Inn, a two-story restaurant that’s occupied 8130 Watson Street for the last 40 years, with a new large-scale residential development. According to the application:

“After many years of successful community restaurant services, it is time to advance the transformation of this part of Tysons by pursuing a new vision for the Subject Property for future generations.”

The residential mixed-use building proposed for the site, designed by KGD Architecture, would consist of adjoining 11-story and 23-story towers. According to the application, the new building would be part of an ongoing effort to revitalize the older retail-commercial area near the Tysons Corner Center mall and set a precedent for future redevelopment in the area.

According to the architect’s website, the project would include 291 luxury apartments, 5,300 square feet of ground floor non-residential uses, and a 200-seat children’s theater. The proposal says the new building will also have three levels of below-grade parking and one level of podium parking.

J.R.’s Stockyards Inn, one of the first restaurants in Tysons to open outside of Tysons Corner Center mall, closed its daily restaurant operations in 2011 to focus on banquet and catering operations.

The proposal is currently under review by Fairfax County government staff and no hearing for the project has been scheduled so far.