Translink has submitted a planning application for the new Belfast Transport Hub.
The Hub is part of the Weavers Cross development which could create up 400 jobs during the construction period.
As the main gateway for Belfast with rail and bus connections to all parts of Northern Ireland and beyond, it will be the main rail and coach link to Dublin with direct connections to major airports.
Translink Group Chief Executive Chris Conway said: "This impressive facility will be a catalyst for the regeneration of the local area and will play a pivotal role in making public transport 'your first choice for travel in Northern Ireland', connecting people and opportunities and connecting industrial heritage with a newly reimagined future.
"It will play a key role in positioning Belfast as a modern, confident and progressive city with a new energy to attract further multi-national investors and boost the economic opportunities for the city and for Northern Ireland.
"As the master plans progress, we will continue to work closely with the surrounding communities to maximise the opportunities this fantastic project presents."
A decision is expected to be made later this year.
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