The planned scheme on the corner of Great Ancoats Street and Port Street will provide 485 private rental flats, managed by Select’s Affinity Living brand.
The design by architect Simpson Haugh includes an 11-storey podium block next to the main tower at the surface car park site.
Construction could get underway this summer if city planners give the project the thumbs up.
Adam Price, chief executive at Select Property Group said: “We are delighted to have reached this major milestone.
“Working with a very talented local design team, we have taken our time to shape these proposals and ensure we deliver an ambitious yet sensitive scheme which makes a positive contribution to the city.
“This development will provide exceptional quality new homes in a sustainable city centre location, with our new residents adding further energy to this thriving part of Manchester.