The oldest building in Downtown Alpharetta could see new life as a multi-story mixed-use office and restaurant destination.

A development group under the moniker Park Plaza Partners is seeking to redevelop 55 and 61 Roswell St. into a four-story, mixed-use project that would include 40K SF of office and 16K SF of ground-floor retail and restaurant space, according to documents filed with the City of Alpharetta.

The developers are seeking an OK from city officials to reduce the number of parking spaces typically required for a commercial project, as well as allow for it to exceed the height caps on developments in the city. Alpharetta City Council tabled the measure Monday until an unspecified future date, city officials said.

The development would also preserve and incorporate the historic Skelton-Teasley House, a single-story Greek Revival home built in 1856 that would be transformed into retail and restaurant space, according to documents.

This is the latest in a revival in real estate in Downtown Alpharetta, spurred on in part by the success of the Avalon mixed-use project just a mile away. Earlier this year, Mayfair Street Partners proposed reviving a historic building at the corner of Milton Avenue and Old Canton Street into a boutique hotel called The Cotton House Hotel.