An application for planning permission to develop a €20m office building in Cork city has been lodged to the city council.
The site on Clontarf Street, which has remained unused for decades, was purchased by Tower Holdings Group.
The proposed 15-storey development will be overseen by the company, which is owned by Kevin O’Sullivan.
Mr O’Sullivan said the development fits in with plans for the revitalisation of the heart of Cork city.
He said: "We are very excited about this development. Our aim is to build a slender, elegant, transparent glass structure that is as much a piece of sculpture as it is a building.
"The development of The Prism Building will enhance a neglected, yet strategic, area of the city with a light filled building, providing a state of the art modern office building which is very much in demand in Cork City."
The building has been designed by Cork based architects Reddy Architecture + Urbanism.
Architect Seán Kearns said the Flatiron Building on New York’s Fifth Avenue was one of the inspirations for the proposed development.