SHANGHAI Square Ltd have released details of their plans for a disputed site on the fringes of Liverpool's Chinatown.
The developers want to create a trade centre, new restaurants, an Asian Pacific food court, leisure facilities and specialist accommodation for Chinese students on the plot.
The derelict site in Great George Street, in the shadow of Liverpool Cathedral, was earmarked for a £100m housing scheme by renowned developer Urban Splash.
That project stalled due to the recession.
The company has proposed to open a car park on the site to help generate funds for a scaled-back scheme which would initially build 10 houses to rent.
Urban Splash owns some of the huge site and has a 150-year lease from the council for other parts. The firm also has a development agreement with the council, which said work should start by the end of March.
Urban Splash has asked for the development agreement to be amended.
The council is currently considering that request and is also studying the plans by Shanghai Square.
Shanghai Square is run by Dr Lee Kai Hung, the council’s Chinese champion.
The firm said the 250,000sq ft trade centre would provide a shop window for up to 100 Chinese electronics businesses looking to showcase their goods in the UK.
Up to 500 new jobs could be created.
Dr Lee said: “We have been working on these plans for 18 months and now have a scheme we believe is right for Chinatown and is absolutely deliverable.
“There are still issues to be resolved about the future of this site, but we think the time is right to engage the public and share with them a vision to regenerate Europe’s oldest Chinatown.
“We are confident that a fair and reasonable solution can be achieved quickly.”