The scheme was a high-profile victim of the credit crunch when work was halted in 2007 as the original backer Windsor Developments went down with debts of £46m.
Around £19m of that was owed to original contractor Laing O’Rourke for work to ground level before the site was abandoned.
New owner Neptune Developments has now drawn-up £65m plans for a hotel and two apartment blocks on the site using the existing footprints.
Neptune has signed deals with tenants for the blocks and hopes to appoint a contractor ready for work to start on site within six months.
Neptune Developments managing director Steve Parry told the Liverpool Daily Post: “To get all that to work is about as difficult as it can be when you are picking up an old scheme, especially in the current climate.
“We are hoping to be on site in the next six months and have at least two buildings completed by early summer in 2013.