The owner of the Haywood Park complex downtown wants to build two new high-rise towers, including one modeled on the building E.W. Grove originally wanted to top the Grove Arcade.

Tony Fraga, who bought the property last year, has unveiled plans that call for a 25-story hotel that would be topped with an ornate, gabled roof, inspired by Grove’s designs.

The second tower, a more modern 21-story high-rise, would overlook Haywood Street.

Fraga’s design is based on the etching of Grove’s original blueprint for the tower at the intersection of Page and Battery Park avenues.

The two towers would be connected by a new arcade that would be occupied by retail businesses.

The hotel would have up to 225 rooms and the residential tower would have about 94 units, Fraga said.

Altogether, the project could cost as much as $125 million and would be the largest project the South Florida developer’s company ever has undertaken.

He plans to formally present the proposally to the Asheville Downtown Commision next month.