According to the OC Register, Disney has submitted an application for a conceptual development review of a brand new 12-story Disney Vacation Club tower next to the Disneyland Hotel.

The 350-room tower would be situated on a grassy area between South Walnut Street and the Disneyland Hotel’s Frontierland Tower. The theme of the hotel would blend in with the existing 1955 design of the Disneyland Hotel towers nearby.

“We look forward to working closely with the Disneyland Resort, the City of Anaheim and engaging our neighbors on this project, which would also create new jobs and spending in the community, as well as generate additional revenue for the city,” Disney Vacation Club Senior Vice President Terri Schultz said in a statement.

News of the new project comes after a 700-room luxury hotel was canceled last year. The 280,000-square-foot vacation ownership project would increase Disneyland’s time-share capacity nearly six-fold — adding to the 71 Disney Vacation Club rooms at Disney’s Grand Californian Hotel & Spa.