Hull City owner Assem Allam has withdrawn an appeal against a decision by the city council to refuse planning permission for him to convert a former factory into apartments and build new houses nearby.
Instead, new proposals are being prepared for a redevelopment scheme at the former Rosedowns factory in Caroline Street, near the city centre.
Mr Allam initially put forward plans to convert the historic site, at the corner of Cannon Street, into 26 apartments. His company Allam Developments had also applied to build 78 new family houses on open land at a nearby site between Cannon Street and Bridlington Avenue. However, councillors voted against the two schemes in November 2012, citing the views of existing manufacturing businesses in the area, who said allowing new housing could threaten their future.