Members of the public, local businesses and interested parties now have a chance to have their say on the new plans for the site of the former bus station, Crown House and the existing multi-storey car park.
Sovereign Centros has submitted the lengthy application - made up of 70 separate documents - to Corby Council.
It includes detailed planning permission for 194 surface car parking spaces on the former bus station site and 211 spaces on the former multi-storey site as well as landscaping and new pedestrain entrances.
Outline planning permission is also sought for new 4,700 sq m of two-storey shop units that will sit at the end of Market Walk.
It is hoped a major high street retailer will show interest in the units before they are built.
The statement to planners says: “The purpose of the scheme is to revitalise the derelict south east corner of the town centre.
“Along with this, another aim is to recreate pedestrian connections to Elizabeth Street and Anne Street to the east and south.
“The existing multi-storey car park is unattractive, not fit for purpose by modern-day standards and, as a consequence, is under-used.
“It is not practical to improve or refurbish it and so the scheme proposals include new surface car parks to replace it.
“The eastern end of Market Walk is currently suffering as a result of the failed leisure based scheme proposed for the site.
“Demolition works associated with this scheme dominate the area and there are a number of vacant, partly demolished shop units and site hoardings that together create an unattractive environment.
“The scheme proposals envisage the redevelopment and reconfiguration of the shop units to both sides of the street and at the eastern end a new, large format store will form the major anchor to Market Walk. An open stair and lifts will connect to the lower level retail parade below that will be outward facing to the new surface level car parks.”
The firm had originally wanted to build a cinema and leisure complex on the site but those plans were abandoned after a rival scheme was started at the other end of Corporation Street.
The new plans were first unveiled at a public exhibition in New Post Office Square at the beginning of October.
It is expected that building on phase one - the site vacated by the bus station - will begin next summer of the plans are given the go-ahead.