Developer Nikal has drawn up the Altair scheme for a 4.5 acre site next to the new £19m interchange scheme, between a supermarket and the leisure centre.
It is looking to provide a new leisure centre and a range of restaurants, coffee shops and cafes.
The plans also include 150 new apartments and townhouses.
Nikal managing director Nick Payne said: “Altair has been designed not as a single piece separate from the town but as the missing piece from the rejuvenation of Altrincham town centre.”
Nikal’s Altair plans originally included a new hospital but it was sent back to the drawing board after health authorities chose a different site.
Trafford Council leader Matt Colledge said: “I am excited by the refreshed plans for Altair and the positive effect it will have on the town as a whole. A considerable effort has been made by Nikal and my officers to regain momentum on the scheme despite a challenging economic climate. This scheme is now more refined, and crucially deliverable, and in my view is a huge step forward in the rejuvenation of Altrincham.
“It now offers a very complementary approach to the town centre, with the mix of leisure uses and cafes bringing a much needed vibrancy to the area and will attract families to spend more time not just within Altair itself but across the town centre generally.”