The developer wants to build 237 homes across two buildings on a plot behind the Marble Arch pub on Rochdale Road, a scheme designed by Jon Matthews Architects.
Featuring two blocks of 12 and 10 storeys, Mulbury’s latest development would comprise 223 apartments and 14 townhouses.
A planning application is to be submitted to Manchester City Council this summer.
Mulbury is developing several schemes within New Cross, one of seven neighbourhoods that make up the wider £4bn masterplan.
The Rochdale Road project falls on the border of the New Cross and New Town zones and takes the number of Mulbury’s pipeline units in this area of the city to 615.
Other Mulbury schemes in the area include the £37m, 161-apartment Bendix Street project, a £32m development on Oldham Road featuring 144 apartments, and the 73-unit Peeler’s Yard on Goulden Street.
All three of those schemes were designed by Tim Groom Architects.