CODE Co-Living wants to construct three buildings, one of 12 storeys, another of 16 storeys, and a 36-storey tower.
At almost 117 metres tall, the main tower would be taller than a 114-metre student scheme currently under construction in Leeds, which is set to become the tallest in the region. It would also be 16 metres taller than Sheffield’s current title holder.
The co-living development would include 1,370 private studio apartments for rent, available for both students and non-students.
Communal spaces would also be incorporated, including dining and café facilities, a gym, cinema room, private study spaces and a first floor roof terrace. There would also be a 24-hour concierge on site.
The building, located near the Vita building, just off Charter Row, would be operated on a build-to-rent basis, owned and operated by CODE.
The developer said 10 per cent of the apartments would be available for affordable housing.
Jamie Lewis, of CODE, said: “We have been looking for a site in Sheffield for several years.
“From the outside, it is clear that the city is going places with Heart of the City II and developments on The Moor transforming the city centre. We want to be a part of this.”
It is hoped that the planning application will be decided before Christmas. If approved, Code hopes to be on site in spring 2020.
Mr Lewis added: “If approved, we won’t hang around. We are keen to get on site and deliver.”