The former O'Dea Agri Seeds Limited site on Hale Street could be transformed in a proposal to the Draft Louth County Development Plan.
The former mill complex in the centre of Ardee, along with the nearby De La Salle Monastery building are part of the project.
The application states that 'the area has the potential of becoming a vibrant area, benefitting from town amenities and green open spaces linked to the Riparian / wildlife zone. A River Dee pathway link could be created through the sites to join up with the path on the other side of Moorehall Lodge nursing home and open up the opportunity of some additional assisted-living dwellings overlooking the public path, which would allow for community engagement.