In partnership with the city council, ECF has put forward detailed plans for phase one of City Centre West, which includes over 330 homes and retail space on disused land between Peel Street and Market Square.
The submission also includes outline plans for the remaining phases of the 1,000 homes masterplan.
As the local planning authority, City of Wolverhampton Council will now consider the application before making a final decision.
This is expected in early 2025 and, if approved, construction of the first phase could begin as soon as next year.
Basit Ali, Development Director at ECF, said: “This is a significant milestone for the regeneration of Wolverhampton city centre.
“It is a strategy to help elevate the city centre’s offer, with new opportunities to live, and spend time. Our approach will also support Market Square to become an exciting place in its own right.”