Plans have been put forward to Plymouth City Council to develop the upper floors of Tamar House, located on the corner of Old Town Street and St Andrew's Cross.
The proposals put forward by Bath-based developer Attlee Sinclair, would consist of a five-storey extension, which would provide space for 21 rooms split across a mix of two, three and four bedroom apartments.
The plans follow several student accommodation developments in the city, including Beckley Court, a 22-storey student accommodation block providing 496 flats, and a five-storey apartment next to the Royal Eye Infirmary providing 30 student flats.
The 56 studio apartments within Tamar House would remain under the proposals, with the additional accommodation being added to the rear of the property.
The untenanted office space located on the first floor would also be refurbished to create apartments, while the Skipton Bank & Building Society as well as the Post Office on the ground floor would remain.
Tamar House received a £3 million investment in the building in 2015, with the upper floors being transformed into 130 studio apartments equipped with self-contained kitchen and en-suite facilities.
Consultation is now open for the plans and will close on November 1.