The original Baltic Triangle scheme collapsed when Windsor Developments went bust with debts of £46m.
In 2008, 800 firms were approached as part of a marketing campaign but the scheme remained mothballed until Barclays, the main creditor, formed a joint venture with Neptune.
However, the scheme has taken a step forward since Falconer Chester Hall were brought on board to redesign the project. The Liverpool based architectural practice hope to re-use the existing half finished foundations and build 4 separate buildings above a 330 space car park.
Balfour Beatty has also been appointed the main contractor with work set to commence once planning permission for the revised scheme has been issued. Baltic Triangle will now deliver 200 apartments, a 170-bed hotel, and 50,000 square feet of Liverpool office space.
Steve Parry, Neptune Developments Managing Director, highlighted the significance of the site and its prominent position in the city due to "its proximity to the Liverpool Echo Arena and Conference Centre, Liverpool One, and of course our Mann Island scheme".
Parry continued, revealing the company's close working relationships with the council and the local residents "to ensure that our proposals are absolutely right for the area".
Parry also expressed his excitement in "turning what is currently an eyesore into the final piece of the jigsaw for this vibrant area of Liverpool.”