He and his team are drawing up designs for the tower, which will include 400 apartments.

He is also in talks with the York-based Joseph Rowntree Trust about creating shared equity deals for the flats and is discussing designs with Jade Jagger from trendy London-based development specialists Yoo.

"We should be ready to put in for planning by summer, and, although we can't say yet where the site is, I can say that the architecture will be something special and it will be inspired by the architect Frank Lloyd Wright," said Mr Linfoot.

The announcement comes days after George Wimpey City announced that it was mothballing its Green Bank development on the fringe of the city centre.

That sparked fears for the high-rise market, but key industry players have long believed it wasn't viable and now say they have been proved right.

Mr Linfoot, who was given the Lifetime Contribution award at Yorkshire's Finest Property Awards at the weekend, said: "Green Bank was never going to work. They paid too much for a site on the outskirts and they couldn't make it work for apartments. That is an office site and always has been.

"I think there will be similar announcements to come because people got carried away a few years ago and paid too much money for land," he said,
adding that, although scrapping schemes appeared negative, it would help the city centre property market.

"The city centre isn't oversupplied but a recent report we commissioned showed that it could be if everything that has planning for residential is built, so developers changing their minds is positive, especially on fringe sites.

"As far as I am concerned everything that is in the heart of the city centre is doing well and there is a demand from owner occupiers and tenants.

"I have 120 flats that I rent out and the demand has never been greater.

"For our new buildings, we're looking at giving a different offer, which is why we're doing key worker accommodation and flats for the over-55s, as well as concentrating on the design and architecture."

Mr Linfoot helped pioneer city living in Leeds and is also working on schemes in Manchester and London.

Construction has just started on his most ambitious development, Lumiere, a towering glass skyscraper in Wellington Street that will include Prime Pads for over-55s.

He is also planning to submit an application for 1,400 apartments for key workers on sites next to Bridgewater Place and on Regent Street.

"The future for Leeds city centre looks great, otherwise I wouldn't be developing here," he said.