Plans have gone in for 336 flats on a wedge-shaped plot between Queens and Farm roads and backing on to Grosvenor Casino.
‘The Meridian’ will be upmarket and targeted at long-term renters with a concierge reception, residents’ lounge, gym and roof garden.
Godwin Developments hopes it will play a part in Sheffield City Council’s £1.5bn plan to regenerate the Sheaf Valley. The area around Granville Square is earmarked for housing.
The 1.1-acre brownfield site has been vacant for many years but is hidden behind a long stone wall.
The design by Sheffield architects Bond Bryan shows a building with three sections at three levels.
A Godwin spokeswoman declined to put a price on the development.
As for paying for it, she said: “Godwin is in talks with a number of investors and owner operators.”