A Boston-based development company has proposed building a new courthouse and apartment building on the site of a former bank in South Boston.

Cedarwood Development filed a proposal with the Boston Planning Department for an adaptive reuse project that would include a new South Boston Municipal Courthouse and 20 residential units at 460 W. Broadway St., according to the filing.

The project, first reported by Banker & Tradesman, is expected to cost $23M, and construction is planned to start in the fourth quarter of 2025 with a completion date in the third quarter of 2027.

The court would take up the first three floors of the old bank building, and Cedar plans to build an addition on the back for the residential units. The building, a former South Boston Savings Bank, was constructed in 1948 and is planned to be "substantially preserved." The residential units would consist of studio, one- and two bedroom units.

The South Boston Municipal Courthouse today stands on East Broadway Street, less than a quarter-mile away from the proposed development. Though the multifamily units aren't subject to a zoning variance, the courthouse portion is.