Phase One of the masterplan will see the delivery of a new 17,000-capacity arena, hotel and associated parking. The arena, which is set to create 1,000 jobs when complete, is being developed by Robertson Group and will be operated by Live Nation and Oak View Group.
The hybrid application is seeking full planning for Phase One and outline planning for the wider mixed-use masterplan, which will see the regeneration of the area.
Nick Harris, group executive property director, Robertson, said: "Earlier this year we undertook public consultation events on the proposed plans and have been greatly encouraged by the positive feedback received from the local community.
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"The planning application considers the comments raised during the consultation which has seen a reduction to the scale of the masterplan and its overall building density.
"The submission of planning takes us, with our partners and the Council, one step closer to delivering the aspirations of the Council to create a vibrant visitor destination within Cardiff Bay."
The new arena will cement Cardiff Bay's position as a top-tier visitor attraction, bringing the world’s best events to the city. Wales, which has punched above its weight with iconic cultural exports for hundreds of years, currently lacks a modern indoor arena capable of hosting major events like other major cities in the UK.
The development of the arena and the wider masterplan takes into consideration the 2030 climate neutral aspirations of Cardiff Council, with the energy strategy designed to achieve an operational climate neutral position by 2030.
It is anticipated, if planning is granted, that the construction of the new arena will commence in Autumn 2022.
