A major development set to transform part of has reached "an impasse" because of conditions imposed by city planners.
Developers of the 'Left Bank' project, on the land where Birmingham's tallest building was previously proposed, say they cannot start work because of a condition previously agreed with the city council.
Warwickshire developer Regal Property Group and an 18-storey, 180-bedroom, Innside hotel on the corner with Oozells Way.
Work had after planning permission but the site still lies dormant.
In a letter to the city council, a company behind the scheme says planners' requirements that the hotel must be occupied before the apartment tower could start welcoming residents was halting progress.
The demand, called condition 18, has delaying funding, according to the letter penned by project management consultancy WYG.
It states: "Following planning permission, the wording of condition 18 has caused difficulties regarding access to agreed funding.
"Whilst the development will be delivered in a comprehensive fashion, separate funding streams are in place for the residential and hotel element.
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"The condition as currently worded has caused uncertainty for those funding the project, principally the ability to occupy the residential building in the event of delay to completion and occupation of the hotel.
"A single construction contract for both elements is close to being let but cannot be completed without the funding being released.
"The impasse means the site will continue to lie dormant, despite the considerable work undertaken by all parties to facilitate its redevelopment."
The reason for condition 18 is to ensure the comprehensive redevelopment of the site, namely public realm works and the refurbishment of the Grade II-listed 'Big Bite' building on the site which will be partially demolished.
It stems from the sections of the Birmingham Unitary Development Plan which pertain to built environment quality.
According to WYG's letter, planning officers at Birmingham City Council appreciated the issues raised which prompted the submission of the application for condition 18 to be removed.
A public consultation on this new application runs until February 4.
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The original, £125 million vision for the car park, which neighbours Brindleyplace and several other hotels, was unveiled almost a decade ago.
Called Regal Tower, it comprised plans for a 56-storey building containing offices, retail space, a 289-bedroom hotel and 256 apartments but the project never came to fruition after being awarded planning permission in 2010.
Pictures: CGIs of Left Bank project