Queensberry Real Estate has submitted a planning application for a 390,000 sq ft retail scheme in Newport, Gwent.
Newport City Council will make a decision for the Friars Walk development in April 2012.
The centre underwent an “intensive redesign” after Queensberry was appointed as developer in May.
Queensberry is understood to be in talks for a “major department store letting”.
The scheme stalled after the council ended funding discussions with Modus and Aim-listed partner Ciref in 2009.
Paul Sargent, partner at Queensberry, said: “Speed of reaction to the market’s ever-changing needs is essential these days.
“It is more astute to go straight to a detailed application after consultation with major retailers so the timeline between contract negotiation and store opening can be kept to a minimum.”