Agents DP9 have submitted the application on behalf of First Urban (Peterborough) Ltd to Peterborough City Council for the city centre location.
The supporting statement says: "Originally constructed in the 1980s, the building consists of 11 retail units at ground floor level with office accommodation on the upper floors, several of which are vacant.
"The ground floor retail units do not form part of this submission."
It adds that the new plans do not include any extra provision for car parking, but 102 cycle racks willl be included - 94 on the first floor, and eight on the second.
The plan continues: "It is therefore not considered that the change of use will have any significant impact upon traffic flows around the site. Consequently, the change of use will not result in any adverse transport impacts arising from the proposals and that it will, in fact, benefit the local transport network through reduced traffic generation and the promotion of sustainable transport."
A noise statement has been prepared considering effects on surrounding businesses within and around the building, which concludes that "there should be no reason why planning permission should not be granted on the basis of noise alone generated from commercial premises within the vicinity of the site".
Prior approval was granted in December 2015 for the partial change of use of the upper floors to provide 63 residential units, but this was not implemented and has since expired.