If a Builder's Remedy project succeeds in Palo Alto, the city's skyline will have a new addition, its tallest residential tower.

Mill Valley-based Redco Development has invoked Builder's Remedy in its application for a project that would replace the Mollie Stone's Market building at 156 California with three residential buildings, including a 17-story tower that would become the third-tallest building in Palo Alto.

Redco's application, in conjunction with Midar Investment Co., proposes three apartment buildings, including towers of 17 and 11 stories as well as a seven-story residential building that would include 15K SF of ground-floor retail, including a new Mollie Stone's outlet, according to a report in the Silicon Valley Business Journal.