The University of Northampton is expected to submit official plans to build a new headquarters near the town centre this summer.
Last year, the university revealed it was considering plans to build a campus on the site of the town’s former power station in Nunn Mills Road.
The site would become the university’s main campus and boost the organisation’s presence in the town centre.
University vice-chancellor, Professor Nick Petford, said: “The Waterside Campus will place the university in the heart of the community, making us much more accessible, central and visible, as well as acting as a catalyst for future economic growth in Northampton and the region.”
The university is expected to consult the public on plans this spring, before submitting a formal planning application to Northampton Borough Council in the summer.
Leader of the borough council, Councillor David Mackintosh (Con, Rectory Farm) said: “We’ve seen the plans for a new university campus really take shape. I’m in no doubt it would be a real asset to the town.”
As well as the university’s plans, the owners of the power station site – Persimmon Homes, Taylor Wimpey and the West Northamptonshire Development Corporation (WNDC) – are also putting together plans to build houses and offices on the land.
But the three have said those plans will only progress if the university’s scheme does not materialise.