City council and rail bosses are working on updated plans that could see a £200m revamp of Leicester station.
New proposals being considered include office blocks going up along with a multi-storey car park around the Victorian station on the edge of the city centre.
The council hopes the wider vision for the area will build upon a 22 million proposal to spin access to the station building on its axis, moving the main entrance from London Road to Station Street.
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That would free up the Victorian entrance to create space for new pubs, cafes, restaurants and shops.
Council bosses say the station is underperforming and ripe for major investment.
The council is working with Network Rail, which owns the station, and East Midland Trains on plans outlined in its newly published 15 year transport strategy.
The council believes new office space is still needed, despite the growing trend of companies having staff work from home triggered by the Covid-19 pandemic.
A city council spokesman said: “Leicester rail station is underperforming compared with similar cities, and requires a complete upgrade.
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“Transformation of the railway station would form part of a major area based regeneration scheme proposed by the council including new office and related development.
“Together these schemes would make a substantial impact on the city economy and also create an exciting new gateway into the city.
“Funding for the scheme has yet to be secured and the scheme will involve phased delivery using resources available through the rail industry, Government and local funding sources.”
Leicester mayor Sir Peter Soulsby said: “The potential in the area around our railway station has been talked about for years.
“Now we are getting some momentum towards achieving our ambitions.
“It has always been complicated because of land ownership but we have been having very useful discussions with key partners in the area.
“Everyone recognises that Leicester is just an hour’s journey from London St Pancras International and that provides huge opportunities.
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“There are redundant buildings near the station which could be repurposed and then there is the station car park itself.
“The aim will always be that the car park adequately serves the needs of the station but we know that it is possible to create a new multi-storey to compensate for any lost spaces.
“We have seen how well it has been achieved at the Leicester Royal Infirmary where they have a multi-storey that functions very well.”
The council hopes to hear later this year whether its bid to the Government’s Levelling Up fund has been successful - allowing it to proceed with the first stage of the station revamp.