Developers hope to demolish a city centre garage and build a 8-9 storey block to house more than 250 students.
An application has been submitted to Sheffield City Council to build the new development on the site of the Bailey Street Garage.
According to planning documents, the proposed flats would include 75 studio flats and 171 study bedrooms.
Documents submitted to the council state: “The site is within the St George’s quarter as defined in the Sheffield Urban Design Compendium. The City Centre Conservation Area is towards the south of the site.
“The existing building on the site has not been identified as a building of townscape merit and can be replaced with an appropriately scaled and well designed, high quality development.”
A number of objections have already been received by the authority, raising issues including height, loss of light to neighbouring buildings, and devaluing of surrounding properties.
No date has yet been set for the application to be considered.