The planning application has been submitted to Inverclyde Council by ScottishPower and planning consultancy Turley.
The planned programme of works also proposes upgrading the existing road network, including a new roundabout on the A78, which will form the main access to the site, and an upgraded junction at Inverkip North/Kip Marina.
The application, for planning permission in principle, proposes to create a new community on the site – to be known as Brueacre Village. The former power station was dismantled in 2014.
Turley’s planning, environmental impact assessment, heritage and townscape, economics and design teams advised ScottishPower on the application for redevelopment of the 100-acre site.
Subject to application approval by Inverclyde Council, ScottishPower proposes to market the site for sale as an approved development opportunity.
Alan Aitkenhead, ScottishPower’s head of estates said: “A huge amount of effort has gone into getting these plans finalised for submission to the Council and our thanks go to everyone involved, including local people who took the time to let us know what they thought during our public consultation events.
“This is an exciting development opportunity that will support the regeneration and transformation of an extensive unused site, while removing a former fossil fuel asset from our property portfolio. We look forward to seeing the proposals progress through the planning process and a determination being made in due course.”
Kate Donald, associate director at Turley, said: “This project is a significant investment in the future of the region and it’s great that we’ve been able to support ScottishPower on its application to redevelop this vacant brownfield site.
“If successful, the development framework would also support the emerging National Planning Framework 4’s aspirations for 20-minute neighbourhoods, where residents can access all the basic amenities they need within 20 minutes without using a car, reducing unnecessary vehicle trips.”