The proposed development would include a 150-bed hotel, 88 flats and 65,000 sq ft of grade A office space.
Robertson Construction (Tayside), has submitted a planning application for the development, in partnership with Dundee City Council.
It will be the first of 12 separate sites at Dundee Waterfront to be developed.
Allan Watt, Dundee Waterfront project director, said: "This is a historically-important planning application for Dundee Waterfront as it marks the start of the first major mixed-use development for the central waterfront area.
"We are receiving a lot of interest from investors, developers and business owners in other sites, but there is no substitute for a full planning application being made to underwrite the scale of ambition for Dundee Waterfront."
Dundee Waterfront is a £1bn regeneration project to transform 240 acres of land along 8km (5miles) of the River Tay.
The £80.1m V&A Museum of Design and a new railway station are currently under construction.
Scaffolding at the museum, which is due to open in 2018, was recently removed, revealing the shape of Japanese architect Kengo Kuma's design.
Plans have been lodged for a £40m development opposite Dundee's V&A Museum of Design.