A huge regeneration plan is set to transform 100 acres of industrial land in Rugby - creating 700 homes and a new base for Warwickshire College.
It has been submitted to Rugby Borough Council by a joint venture firm set up by Birmingham-based St Modwen Properties.
Outline planning applications have been lodged for the redevelopment of two sites, Leicester Road and Boughton Road, owned by St Modwen t hrough Key Property Investments.
On the 80-acre Leicester Road site, consent is being sought for 480 homes, a new campus for Warwickshire College which would relocate from Lower Hillmorton Road, and a DIY retail store and garden centre.
The application also includes the retention of the main 600,000 sq ft Alstom Power Conversion building to enable the existing operations to continue, and discussions
are being held with Alstom's sub-tenants and suppliers to relocate them to suitable premises.
A total of 230 homes are proposed on the smaller site - about 20 acres in Boughton Road - which originally was an industrial estate where Alstom Power Conversion will continue to operate.
Two years of preparation work in conjunction with the council and other statutory bodies, including six weeks of public consultations, have gone into evolving a masterplan for the regeneration of the two strategic sites which will provide a major boost to the town's housing stock.
Another important aspect of the proposed redevelopment is the creation of a new link road between Mill Road and Leicester Road to relieve congestion in Boughton Road.
Peter Robbins, of St Modwen, said: "This is undoubtedly one of the largest mixed use schemes proposed in Rugby for decades.
"We are very pleased to have been able to work so closely with the borough council and thank them for the resources and man-hours they have devoted to bringing forward this major regeneration scheme.
"We hope, subject to planning consent, to begin work on some of the roads and infrastructure in the late summer."
Coun Gordon Collett, Rugby Borough Council's borough development portfolio holder, said: "We've been working with St Modwen and others for a long time to bring about the redevelopment of this huge site.
"The submission of the planning applications is a significant step forward. Now comes the hard work of getting all of the details right. We need to make sure that the development operates in the interest of all Rugby residents."
Coun Jim Shera, who chairs the borough development panel, also welcomed the planning applications. "This development, particularly the new college, will have a major beneficial effect on people throughout Rugby," he said.
"In negotiations on the planning applications we have to get all of the details right. In particular, I will be looking for the new road to be completed at a very early stage."
IoanMorgan, principal of Warwickshire College, said: "Warwickshire College is already a Beacon College and looks forward to bringing its employer engagement activities and a wide range of vocational courses to the new centre on the Alstom site. It will be a signature building for Rugby and will greatly enhance the learning opportunities for the people of Rugby."