The project will see the conversion of two vacant office buildings at Salford Quays into apartments.
Newcastle-based developer High Street Group had previously been lined up to buy the site but it is unclear if the firm is still involved in the scheme.
HIG Capital’s £32m plans for Residence @ Anchorage would see Anchorage 3 and Anchorage 4 redeveloped into 151 flats.
The buildings would be extended upwards by two and three storeys respectively.
Under the plans, Anchorage 3 would comprise a total of 81 apartments, while Anchorage 4 would feature 70 properties.
The site is situated at the head of Erie Basin in Salford Quays and is comprised of two former office blocks, the eight-storey Anchorage 3 and Anchorage 4, which is six storeys high.
Anchorage 3 and 4 previously housed private healthcare firm Bupa, which has since relocated to its own building in Salford Quays.
The buildings were originally constructed in the early 1990s along with two further blocks, Anchorage 1 and 2, that are collectively known as Anchorage.
Anchorage 1 and 2 are still used as offices and were bought by Investcorp for £40m earlier this year.
The conversion of Anchorage 3 and 4 was first mooted in 2019 but two years on the number of apartments has been increased and the plans now also feature the addition of rooftop extensions.
A planning application for the extensions has been submitted to Salford City Council and HIG is also seeking prior approval for the conversion of the existing buildings.
CBRE is the planning consultant and BDP is the architect. The previous iteration of the scheme was designed by AudereBW and Lichfields was the planning consultant.
The neighbouring 828 space multi-storey car park is also owned by the applicant and is available to be used by future residents.