The plans propose 362 flats - a mix of one, two, three and four-bed homes – in an eight-storey building, plus 600 square metres of commercial space for retail and related uses. A separate nine-storey car park with 800 spaces is also included.
The full application was lodged with Warrington Borough Council on Friday by consultancy Lichfields on behalf of developer Palmus Developments.
According to Lichfields, the 0.9 hectare site in John Street is unoccupied having previously hosted a now-demolished warehouse.
The firm’s planning statement says the new flats would comprise 134 open market and 228 private rented sector housing.
It goes on to say that a detailed viability appraisal accompanying the application "demonstrates that the scheme is not viable", adding: "It concludes that a reasonable return cannot be afforded to the landowner or developer and [Warrington Borough Council] should take a balanced judgement bearing in mind their wider objectives in terms of regenerating this part of Warrington town centre, the re-use of brownfield land, and improvements to the cityscape."
Kirstie Hopcroft, a senior planner at Lichfields’ Manchester office, said: "The site has previously had planning permission for 284 apartments, but was not built out because of the economic downturn and viability issues.
"Palmus has been working on new proposals to redevelop the site for a number of months.
"The site is 100 metres from Warrington Central Station and will act as a catalyst for regeneration of this part of Warrington."
The firm added that the proposed development would support more than 200 construction jobs during the build period and 27 once completed.