The 22-storey building, designed by Hawkins Brown, will bring forward an additional 196 homes with city and waterside views.
It forms part of the £1bn, 50-acre Salford Central regeneration.
Adjoining the building is Novella, a development of 211 new homes by ECF, where buyers start moving in this August.
Around 50% of the homes at the scheme have been sold before the building has completed, giving confidence to start the next project.
Max Bentham, senior development manager at ECF, said: “We’re delighted with how the sales at Novella have progressed and we are excited to submit a planning for the next phase of homes in Salford Central.
“We’ve worked hard to transform this area of city across nearly two decades, providing a choice of homes, fantastic workspace, public spaces and amenities, bringing investment, new jobs and communities, to deliver real benefits for the people of the city.”
Should the scheme receive planning consent, construction would start on site in the first quarter of next year.
The Salford Central area of Salford is being delivered ECF, a joint venture between leading national regeneration firm, Muse, Legal & General and Homes England.