Up to 30 flats could be built on the site of Sudbury’s redundant tax office.
Contractors are currently demolishing the building in Newton Road, which closed as a tax office following Government cuts which were announced in 2008.
The building has stood empty for a number of years, despite attempts to use it as a retail unit.
Peter Whatley, from investor Hymas and Whatley, which owns the site, said he was looking to submit a planning application for between 28 and 30 flats on the land.
“We are looking to create a block of modern flats and it would be a sustainable development,” said Mr Whatley.
“There would be parking and we want it to tie in with what is around that area.”
Planning consent to change the building to allow shops on the ground floor, while retaining the office space above, was granted in early 2012. But proposals by a soft furnishing firm to take over the site fell through.
“We were unable to make that work and that is why not a lot has happened,” said Mr Whatley.
He said that the plan was to have a mixture of one and two-bedroom flats and, in order to make the build viable, some of the top soil on the site may have to be removed.
“These flats would be good for the elderly and the young, being so close to the town centre,” said Mr Whatley. “If we get permission, work would be able to start straight away.”
The plans will go before Babergh District Council.