Star Pubs & Bars has filed plans with Dundee City Council to deliver a £300m revamp the the Mercantile Bar.
The large city centre bar closed in August 2016, initially for a one-year refurbishment, but has remained closed since then.
The Heineken subsidiary firm has been looking to sign someone up to operate the bar before going ahead with the refurbishment.
Star shelved plans put forward in January to transform the bar into premium all-day eating and drinking venue called Smith's. The plans included a DJ booth, stage and private function area.
Kirkcaldy-based architecture firm, DNP has created new designs for Star, which have been put forward to the council.
The venue sits just off the main shopping street and is within walking distance of attractions, such as the waterfront and the recently opened V&A.