POULSBO — A pharmacy and a fast-food restaurant or bank are proposed on the site of Northwest Design Center at Highway 305 and Hostmark Street. Again.

Sure, you’ve heard this one before. Walgreen’s was moving in, and McDonald’s was relocating to the site from Viking Avenue, and the Northwest Design Center prepared to move to Silverdale. And then it all fell through.

It’s more likely to happen this time.

Behind this latest proposed redevelopment of the site is Velmeir Companies, a commercial retail development company based in West Bloomfield, Minn. Velmeir has developed retail sites for Blockbuster, Chick-fil-A, Chipotle Mexican Grill, CVS Pharmacy, Dairy Queen, The Home Depot, McDonald’s, Office Depot, Staples, and others.

According to the notice of application for a site plan permit, Velmeir proposes tearing down the 38,172-square-foot furniture store and building a 14,500-square-foot CVS Pharmacy with drive-through and 62 parking spaces; and a 3,995-square-foot fast-food restaurant or bank with drive-through and 40 parking spaces. The site will be landscaped. Access will be from an existing driveway at the north end of the site off Highway 305, and a relocated driveway on Hostmark Street. That driveway is being moved to ease congestion at 305 and Hostmark, according to associate city planner Karla Boughton.

Residents can review the site plan and submit comments to the city until Nov. 13. The site plan requires approval of the planning director. Other permits required: Demolition, grading, and building.

The application file is available for review at the planning department at Poulsbo City Hall, Monday through Friday, 8:30 a.m. to 4 p.m.

Boughton said Velmeir expects to finish the project by October 2014.

The longtime owner of the property is Apple Investment Co., Seattle. The current building is 40 years old — it was originally Poulsbo Market. The site has an assessed value of  $3.1 million, according to Kitsap County Assessor’s records.