Hotel and leisure facilities could be incorporated into a planned transformation of Dundee College’s Constitution Road campus.
The area has been empty since the college left in 2011 and since then the site has been a target for vandals and thieves.
Now its new owners have started a process to bring life back into the building.
A pre-application notice has been submitted to Dundee City Council by Whiteburn Projects in Edinburgh, which bought the building in April.
It proposes to turn the old college into a mixed-use development, made up of residential apartments and possible commercial uses such as offices, workspaces, retail, hotel and leisure facilities.
The proposal is in the early stages and, if approved, more detailed plans would be required at a later stage.
John Shepherd, managing director of Whiteburn Projects, said as the application is still in its early stages the firm want to keep as many options open as possible.
He said: “The point of a pre-application notice is to specify as widely as possible to give us options.
“The main option is for residential use for a young, urban population.
“We plan to use the existing building to its best extent and then weave in other facilities like workspaces, bars and restaurants.
“We are preparing some proposals which we are working on at the moment and we should have some exciting suggestions for the public consultation next month.
“Nothing is set in stone but we want to get feedback from the planning department and local residents first.”
Whiteburn Projects specialises in urban, mixed-use regeneration projects and is currently working on the former Parkview school building in Blackness Road.
Architect Keppie Design Limited is working on designs for the Constitution Road development, which will be presented to the public next month.
The company said it was “still fleshing out ideas” for what could be done with the site which is made up of two towers and a podium.
The public consultation event will take place at St Mary Magdalene’s, Dudhope Crescent Road, on Thursday December 11, from 3pm to 8pm.
The event will give people the opportunity to ask questions of the developers and make comments about the plans.