Downing, the property group behind the award-wining Broadcasting Place tower, plans to build student digs on land formerly owned by Leeds Metropolitan University.
A planning decision is expected in March and, if granted approval, the scheme would completed in September 2012.
Designed by architects John McAslan + Partners, the scheme will create 568 student bedrooms across three buildings, one a 27,500 sq ft new build and the rest through refurbishment of original university buildings.
Improvements are proposed to existing green space by enlarging parkland and prioritising pedestrian access over vehicles.
Paul Houghton, development director at Downing, said: “Leeds is one of the UK’s key university cities with a robust student market and, as we’ve seen with the success of Broadcasting Place, quality student developments are in high demand.”