Maryland Securities wants to redevelop the East Manchester mill to provide 277 homes within the existing building and two new-build blocks, a £58m project that has been in the pipeline since 2007.
The developer has lodged a planning application for the Bradford Road project with Manchester City Council.
The scheme aims to “safeguard and breathe new life” into the former mill, according to Maryland.
Designed by Hodder + Partners, Brunswick Place is to feature 20,000 sq ft of commercial space on the ground floor of the refurbished mill, which will house 150 apartments.
The four and seven-storey new-build elements will provide the remaining homes, including town houses and a small amount of commercial space to animate the corner of Beswick Street.
Additionally, Maryland proposes the creation of a public path through the site connecting Bradford Road with the Ashton Canal towpath.
The site provides an opportunity to link together New Islington and the Etihad Campus, continuing the regeneration of the Eastlands district, the developer said.
Stephen Hodder, chairman of Hodder + Partners, said: “The main ambition of this scheme is to celebrate the listed Brunswick Mill, which is a key part of Manchester’s industrial heritage. The two new buildings for the site are designed to complement the mill and ensure its prominence in the area is not lost in future years.
“We want to create a sustainable and characterful neighbourhood that will enhance the local environment.”
Part of the mill is occupied by a number of companies on short term tenancies, including Brunswick Mill Rehearsal Studios. However, income generated is “not sufficient to secure the long-term, sustainable future for the entire site”, according to the developer.
Maryland is in talks with occupiers about the future of the building and relocation possibilities.
Deloitte is the planning consultant for the scheme.
Whether Maryland will bring the scheme forward post planning remains to be seen. At Weir Mill, a similar site in Stockport, Maryland won planning consent for the redevelopment of the site but ultimately sold it to Capital & Centric.