With the core of the 50-storey Colliers Yard already rising out of the ground, the developer is eyeing a start on the second building within its three-tower Salford cluster, a 42-storey skyscraper.
Renaker, which is delivering the Greengate scheme through its AQ Investments subsidiary, has lodged a building control application for the project.
A public consultation is to launch “in the not-too-distant future”, the company told Place North West.
The tower is to be constructed on plot C, bounded by Collier Street, Boond Street and Trinity Way to the north of the site, close to Anaconda Cut, another Renaker project.
Salford City Council granted outline consent for a 42-storey building on the plot last year.
The tower is to comprise between 420 and 444 apartments.
A detailed planning application for the scheme is currently being drawn up, Renaker said.
Initially, the plan was that the plot C tower would be constructed last of the three but the phasing of the scheme has now changed. The phasing tweaks mean that the tower fronting Trinity Way is to be delivered next, followed by a 41-storey block on Queens Street, next to Colliers Yard.
Colliers Yard, the tallest of the three towers, comprises 559 apartments and started on site last summer.
Renaker was granted £37.5m from the GM Housing Investment Loans Fund for Colliers Yard late last year.
The wider Greengate project, designed by OMI Architects, will feature more than 1,500 homes when complete.