Indian restaurant A Touch of Spice in Broughton could be bulldozed.
Builders want to bring retirement flats, offices and shops to the site in Garstang Road.
Proposals for the development, lodged with Preston City Council, would see a new access point off Woodplumpton Lane.
The new three-storey building planned would encompass 36 residential units, a two-storey building for four shop units on the ground floor and office space above.
The retirement flats would be for those over the age of 55 who need support while also allowing them to live independently.
If the build gets the green light from councillors, developers PWA Planning say that residents would live in a self-contained flat, with their own front door, but support would available up to 24 hours per day.
The existing building which houses A Touch of Spice is listed in Preston Council’s Local Heritage List.
Planning documents from PWA state: “The demolition and complete redevelopment is the only way forward on this site in the safest and most cost effective.”
Documents also provide details of a parking area at the site.
They state: “The internal access road leads to parking along the internal access road and to a parking area to the rear of the retirement units.
“To the rear of the retirement units is a communal courtyard style garden area.”