A Boston-based developer has filed plans to build a four-story building with a mixture of retail space and residential condominiums in Portland’s India Street neighborhood, an area that’s seeing some of the most aggressive real estate development in the city.

The project at 62 India St. would require the demolition of Port City Glass, a full-service, family-owned glass shop that opened in 1979. In its place would rise a 45-foot-tall building that would have three specialty retail stores on the ground floor and three upper stories of residential condominiums, according to plans filed with the city.

Port City Glass sold the property in January and is in the process of finding a new location nearby, said the company’s Realtor, Tony Donovan.

The developer is India Newbury Residences LLC, which lists Boston as its home base. The company’s principal, Joe Dasco, is part of Reger Dasco Properties, which is behind two other major luxury condominium projects in the same neighborhood. The Bay House was completed in 2013, adding 85 condos at Hancock and Newbury streets, and 113 Newbury, which is under construction, will add another 39 condos.

Dasco said the group remains bullish about Portland, especially the India Street neighborhood, given the lack of housing and number of baby boomers who are moving from the suburbs to the city.

“We’re here long term. We have some other opportunities were looking at,” Dasco said. “There’s little to no inventory on the market right now and demand is strong.”

Planning documents from the city indicate the project would include seven one-bedroom condos, 17 two-bedroom, five three-bedroom and 27 parking spots.

Although cost estimates and final pricing remain in flux, Dasco said a 650-square-foot condo could be priced around $300,000, with larger units topping $1 million.

Although the company’s two other projects have been criticized by some residents as being out of scale with the surrounding neighborhood, the India Street project will be subject to new regulations, including a requirement that at least 10 percent of the units be affordable to middle-income earners.

It is also located in a new historic district, so it will be subject to additional design standards and a new type of form-based code, which establishes guidelines for how buildings should look, rather than how they are used.

Dasco said he is not sure whether he will include the two affordable units in the building, or pay a $100,000-per-unit fee to the city’s housing trust fund.

The Planning Board would have to approve a subdivision plan, but the site plan would only be subject to an administrative review because it’s less than 50,000 square feet, said Jeff Levine, the city’s director of Planning and Urban Development. That administrative review would not include a formal public hearing, but residents can still submit written comments to the city’s planning office, he said.

“The idea is to encourage developers to meet this standard of design and in turn give them a more expedited review,” Levine said. “We will have to take a good look at the design to make sure it meets the standards.”

Levine said he is pleased to see development proposals continue to come forward after the regulatory changes.

Before this, developer Chip Newell filed plans for a six-story condo building with 26 units at 167 and 169 Newbury St., with prices ranging from $200,000 for a one-bedroom unit to $400,000 for three-bedroom units. That project is also subject to the new form-based code and workforce housing requirement.

Levine said he believes the India Street project will help fulfill the neighborhood’s vision.

“It certainly would fill a gap in the street wall on India street and that’s consistent with the vision for India Street,” Levine said. “And we definitely need the housing, so I think it hits a lot of good notes.”

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