Designed by Brighton's Yelo Architects, the building would sit on the corner of Sackville Gardens and Kingsway.
It would provide 107 homes ranging from penthouse apartments to "affordable" flats, some with rooftop gardens or balconies.
Developers say it should be embraced but some campaigners think it is the wrong building in the wrong place.
The developer claims the derelict site has been an "eyesore" since a former hotel partially collapsed and had to be demolished in 2006.
Tom Shaw of The Hyde Group said: "This is a prominent site on Hove seafront which deserves a high quality building with real architectural and design merit."
But Valerie Paynter, of Save Hove, said: "This is an interesting piece of architectural design - but not for this site.
"It would serve better as offices in a large public square setting.  It is depressing to have to oppose it."
Ms Paynter said light loss and its "overbearing appearance" would create a "bullying" presence for the housing that surrounded it.
Councillor Robert Nemeth of Wish Ward said: "With housing targets imposed upon us, we have little choice but to get building.
"This means either tall developments in key areas in the city or sprawling over the South Downs.  As long as neighbours' concerns are genuinely taken into account, I'd much rather go up than out."
Plans for a 17 storey high-rise building on Hove seafront have divided local residents.