Plans for a £70m development have been submitted to the Sheffield City Council.
Litton Buccleuch, a property development company based in the East Midlands, are planning on building a 15-storey student accommodation block on the site of the former Stokes Tiles Centre in the city centre.
The build will include around 800 beds, as well as a ground-floor retail unit consisting of shops and cafes.
The construction is projected to begin in May and will take 24 months for the development to be completed.
The accommodation is aimed at both University of Sheffield and Sheffield Hallam University students.