New 50-storey skyscraper would be Wales' tallest building
The plot, between Wood Street and Rose Lane, already has full planning permission for a 35-storey, mixed-use development, offering commercial use on the ground floor with residential space above.
REAP 3 Limited, an offshoot of BlueCastle Capital, is now gearing up to submit a fresh planning application for the site.
The updated plans aim to build on the success of the broader Central Square area, proposing a 50-storey high-quality mixed-use development that will establish a new landmark at what is described as a "significant location" in Cardiff.
In total, the new structure, set to be the tallest in Wales and overshadowing the 29-storey Meridian Tower in Swansea, will comprise 528 new rental homes, along with a host of residential amenities, a bike hub and flexible non-residential uses.
Of these apartments, 344 will be one-bedroom, while 184 will feature two bedrooms, reports Wales Online.
According to the design and access statement included in the plans, REAP 3 Limited said the site is situated at a key junction in Cardiff city centre, positioned between Cardiff Central Station and the Principality Stadium.
The company said: "It forms part of a major pedestrian route connecting transport, retail, and civic destinations, and experiences extremely high footfall, especially on matchdays when the stadium hosts up to 80,000 visitors.
"This prominent setting places strong demands on the public realm to be resilient, legible, and welcoming, supporting both everyday use and peak crowd conditions.
"The proposal responds by embedding nature-based solutions, enhancing wayfinding, and delivering a landscape that supports climate resilience, biodiversity, and cultural identity."
TREAP 3 added: "The success of the project will rely heavily on the quality of both the service provided and the environment created. High standards of design and finishes will be complemented by the thoughtful arrangement of spaces to enhance the resident experience.
"The entrance will be designed to ensure a secure, high-quality entry experience." Sign up for the North Wales Live newsletter sent twice daily to your inbox
A comprehensive planning application will be lodged with Cardiff Council in the coming weeks.
Local residents are encouraged to examine the detailed proposals and provide any comments they wish to make.
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