Peel has submitted its planning application for the massive Liverpool Waters scheme to redevelop 60ha of the city's docklands to create three million square metres of new space.
The developer claims the scheme is the largest and most ambitious regeneration scheme anywhere in the UK and would cost £10bn over 30 years.
The counterpart Wirral Waters scheme across the Mersey received approval in August.
"With the amount of people involved in the process I have to say that it's been very difficult to get a general consensus of agreement but we have managed this because all the stakeholders are proud of Liverpool and want this project to be delivered and therefore have made massive efforts to get it to this stage," said Peel development director Lindsey Ashworth.
The proposals include 9,000 homes, a cultural building, cruise liner terminal and local shops and restaurants as well as a 55-storey tower which would be the UK's highest building outside London.
The scheme involves part of the world heritage site and involves conservation and restoration of some features.
"We, along with other agencies, have worked with Peel to help shape this scheme but we do recognise that there are great sensitivities attached to it and there will be full consultation before a decision is made as part of the normal planning procedure to ensure the best possible outcome for the city," said Liverpool City Council leader Joe Anderson.
Peel hopes to create an international business destination in Liverpool which would attract investment from around the world. It plans a series of neighbourhoods with different characters and functions.
"Having worked very closely with Liverpool City Council, English Heritage, CABE, Government Office for the North West, the Mersey Partnership and Liverpool Vision over the past four years on this exciting project, it is credit to all involved that we have now submitted the outline planning application," said project manager Ian Pollitt.
"This is a fantastic opportunity for Liverpool and the City Region and we look forward to continuing such a positive working relationship with the City Council and the other agencies over the coming years."
