It is hoped the project could "breathe new life" into the north Liverpool area.
A pre-application has been submitted to Liverpool City Council to transform a neglected plot of land in a move that could create a new £30m 'gateway' to the city centre.
Sourced Development Group is behind the plans for Carlton Court, which would regenerate a derelict plot on West Derby Road in Tuebrook into "modern homes".
If approved, the development would comprise 123 one and two-bed apartments and two duplexes alongside mixed-use co-working and retail space.
Communal facilities for residents include landscaped gardens, parking and cycle storage.
Sourced managing director Joanne Waller said: "We are generating another gateway into Liverpool city centre which will produce hundreds of new jobs and apprenticeships as we transform an abandoned wasteland into a bustling and beautiful residential neighbourhood.
"While using original elements to inspire our design, the finished project will be an eye-catching development which will play a key role in the regeneration of the area.
"We’re looking forward to working with the city council, local councillors and stakeholders to create a scheme which everyone can be proud of."
Sourced has already carried out clearance work on the land and has worked with the council to enable to restoration and enhancement of Tue Brook which gives the area its name.
Carlton Court forms part of Sourced's plans to create 3,000 homes across the North West in the next three years. Other Liverpool projects include Kingsway Square and Westminster Park.