BOSTON (CBS) – After years on hold, there is a new plan to redevelop the Filene’s Basement location in Downtown Crossing.

Millennium Partners wants to build a 600 foot tower, filled with apartments and condominiums, while revitalizing the Burnham Building that once held Filene’s.

Millennium took over the site after the former developer failed to move the project forward.

According to Millennium, the $615 million project, “Intends to present the simultaneous and harmonious pairing of new and old, and will consist of uses that will ensure a vital 24/7 city-sector.”

“Millennium Partners has always been a real partner of the City of Boston,” said Mayor Tom Menino. “They continue to do excellent work leading the way in the building of an exciting new day for the area of Downtown Crossing and the Millennium Tower/Burnham Building project.”