KPMG submitted the application as administrators of Lexi Holdings, a finance company that went into administration in 2006. Plans for the scheme include 400 new homes and flexible commercial space.
Under the plans submitted to Manchester City Council, the commercial space would be for "flexible" units, which can either be used as industrial or office.
The scheme, designed by architects Taylor Young, includes a series of two to three storey buildings. The planning consultants for the scheme are GL Hearn.
The scheme is aimed at kick-starting other regeneration projects, as the design statement, submitted to the Council, states that the plans will "contribute to the wider regeneration of the area".
"[The development] will also bring investment and employment opportunities that are made even more important by the effects of the current economic recession," the planning application said.
In addition to new access points for the former brickworks site, proposals include new cycle and pedestrian routes for the northern part of the site bordering the Rochdale Canal.
The application for the development has been delayed by almost six years due to an ownership dispute over the land.
