Town & Country Market released an artist’s rendering this week for a proposed remodel of its iconic Winslow store.

The project will bring the market onto a single story and generally modernize the 56-year-old building. The familiar reader board sign on Winslow Way will remain intact.

T&C first announced the proposed remodel in 2012. The company filed an initial project application with the city Thursday, according to a news release. Remodeling work could begin in early 2014 depending on the permit timeline.

Island architects Devin Johnson and Priscilla Zimmerman are designing the project. Tom Chiado is project manager. Abbott Construction of Seattle is the general contractor.

Company representatives say the extensive remodel signifies T&C’s commitment to staying put in downtown Winslow.

“We feel now is the right time,” T&C Chairman Larry Nakata said in the release. “We are fully committed to downtown and recognize the store’s place in our island’s history. We want to be part of Winslow’s exciting future.”

The Loverich and Nakata families opened the Winslow market in 1957. The store expanded in 1990, adding a cafe and floral department. Town & Country Markets now operates five stores.