Allied Developments and student accommodation specialist Connislow are planning a 37-storey joint venture on a former Dandara site near Oxford Road Station in central Manchester.
Four tiered high-rise towers designed by Manchester practice Hodder + Partners would contain 525 bedrooms and fit onto a plot of just 7,000 sq ft.
Prior to being halted by the recession, Dandara had planned a smaller tower for the site, also designed by Hodder + Partners.
Manchester City Council could decide on the planning application for the tower as early as March. Watchdog CABE has given its design review statement on the scheme, with a mixed response to the plans. If approved, work could start on site in June.