More than 320 new homes and a multistorey car park for 300 cars could be built at Leale's Yard on the Bridge in Guernsey.
The Co-op has revealed its latest plans for the derelict site.
The multi-million pound project includes creating the island's biggest supermarket.
The Channel Islands Co-operative Society, which owns the land, says the homes will be modular, energy-efficient and affordable.
Modular homes are built in sections elsewhere and assembled on-site, significantly cutting construction times.
This is the third incarnation of a potential redevelopment of the site, but bosses are confident at being able to deliver on the ambitious project.
Chief Executive Mark Cox says it will bring a wealth of benefits to people and businesses in St Sampson's and more widely to Guernsey.
“We have taken both our experiences gained thus far and the requirements of the Development Framework and developed plans for a ‘community-led’ development that, when completed, will be a real destination place for islanders.”
We look forward to achieving a positive outcome from this application, and are confident that, when approved and developed, it will be fantastic for The Bridge area and beyond.”
Delighted to be submitting a new planning application for the much needed development of @CI_Coop Leale’s Yard. The plans will bring a wealth of new benefits for islanders, from social & economic impacts to environmental sustainability & affordable housing.#belongingisrverything pic.twitter.com/toPKWT6dUQ
— Mark Cox (@MarkCoxJsy) April 7, 2022
Proposals include green spaces, cycle paths and flood defences.
The Co-op says it will involve a £50 million capital investment for the construction and £150 on local facilities management after it is built.
A planning application has been submitted today (7 April) and, if the scheme is approved, the company hopes to have the shop open and the first homes completed within three years.
It will partner with local suppliers and contractors to deliver the scheme, including JW Rihoy and Son Limited
Islanders can find out more about the development at the Salvation Army Hall in Nocq Road on Friday 10am-6pm and Saturday 9am-12.30pm.
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