The initial concept for the 2.4 acre site includes office accommodation, a conference centre, student accommodation and a boutique hotel.
Buildings that previously housed Nottinghamshire Fire & Rescue and Nottingham Police, who vacated the site in 2015/16, will be demolished to make way for the new scheme, whilst the Grade II Listed Guildhall building will be transformed into a high-end boutique hotel.
The palette of materials for the designs have been kept deliberately simple, to form iconic buildings that blend into their historic setting.
A landscaped public urban space will also be created between the buildings.