Canada-based Carttera Private Equities is behind the project, which would see the flats all available for the rental market.

Carttera’s proposals for the quarry also include a multi-storey car park, reception area, cafe, gym and other outdoor facilities.

The firm also has planning consent for over 100,000 sq,ft of offices on the same site but is bringing forward the flats plan due to “current market conditions”.

The 466ft deep water-filled quarry produced the stone which forged Aberdeen’s identity as the Granite City.

Plans to create a £5 million heritage centre on its banks stalled after Aberdeen City Council declined to offer funding for the project.

Jim Tadeson, a partner at Carttera Private Equities, said he expected demand for the properties to be “very robust”.

He said: “We are excited to be bringing a high quality, beautifully designed purpose built rental apartment building to this spectacular location in Aberdeen. Carttera is developing over 500 residential rental units presently and has developed over 3,000 rental and condominium units over the past several years in Canada. While the site is already approved for both an office development and flats, we are responding to current market conditions in bringing forward this application for circa 285 apartments.

“With the most extensive range of amenities and features available in Aberdeen, secure covered parking, brand new construction and its incomparable location - we believe the demand for these units will be very robust. This will be a wonderful option for a broad range of people looking to rent in the city.”

Michael Gilmour Associates has been working with Carttera on the project.

The firm wants to start building the flats at the beginning of 2018 and hopes to have them completed by 2020.