Mystic — The developer of the former Mystic Color Lab site has filed an application for the second and final approval it needs to build 42 townhouse condominiums on the 5.5-acre site.

Greylock Property Group is seeking site plan approval for the project on Harry Austin Drive.

The application states the project, called Mystic Harbor Landing ,will be constructed in three phases. The condominiums will be located in seven buildings and there will also be a one-story, eight-bay garage.

In February, the Stonington Planning and Zoning Commission approved a master plan for the site. The current plan has 13 fewer units and 26 percent less square footage than a previous plan for the site that called for a large single structure.

The commission now will set a public hearing date for the site plan application.

Greylock has had a contractual agreement with the property owner, Edgewood Capital of Southport, to explore potential development possibilities for the property.

In the fall of 2014, Edgewood had sought approval of modifications for the previously approved plan for 55 luxury condominiums. But the commission rejected the application after a group of neighbors opposed the changes.

Commission members cited the size and mass of the plan as well as their desire to maintain the character of the mill as reasons for their opposition. Edgewood then put the property up for sale.

Another group had obtained the initial approval to develop the site in 2005. It demolished most of the mill, cleared the site and began an environmental cleanup. But that project stalled with the downturn in the economy.

j.wojtas@theday.com