A multimillion euro redevelopment of the disused former Fruit of the Loom factory in Buncrana, Co Donegal, could lead to the creation of several hundred jobs if planning permission is approved.
The massive project, which would be up to seven storeys high, is proposed for the six-acre site with views of Lough Swilly.
It is understood that a number of major potential employers, including Dunnes Stores, are interested in locating in the town.
The news has been welcomed by local public representatives in the Inishowen peninsula.
The area remains one of Ireland's unemployment blackspots, with the jobless figure running above 20 per cent in some towns and villages.
The developers, Jansu Developments Ltd, intend to demolish the old Fruit of the Loom building on Cahir O'Doherty Avenue and to replace it with a "mixed-use development".
This would incorporate an anchor unit of 5,456 sq m, 15 other retail/commercial units, nearly 2,500 sq m of office space, as well as a cafe and restaurant/bar.
It is also planned to put in a medical centre and 70 apartments.
The apartments will be a mixture of one, two and three-bedroom units. All will have balconies or terraces.
The plan also provides for 558 parking spaces, of which 100 would be reserved for residential use.
At its peak Fruit of the Loom employed over 2,000 people in the Inishowen peninsula. The company at one stage had factories in Buncrana, Newtowncunningham and Malin.