The 44 homes will be built overlooking the canal in Walsall's Waterfront for the over-55s.
It is the latest development at the site after plans were announced for a £12 million cinema and restaurants.
The plans have been recommended for approval by planning bosses at a meeting on Monday.
Walsall Housing Group says the new 'wellbeing' complex will provide much-needed facilities for older residents in the borough.
Director Clive Jessup said the development would form part of the revamp of the ara: “We are delighted to have the opportunity to apply for planning permission for this much-needed facility which will provide a positive addition to our major regeneration project at Waterfront South.
“We look forward to working with our partners Walsall Housing Group to deliver this final phase of our canalside development.”
Councillors meeting on Monday will decide whether to give the scheme the go ahead.
A report which will be presented to them states: "The 'wellbeing' concept model is operated successfully by Walsall Housing Group on other developments within the borough and facilitates independent living for over 55s with varying levels of support to suit individual needs. All apartments are self-contained and are designed to be fully wheelchair accessible.
"They all have wet rooms with level access showers and kitchens can easily be laid out for use by residents in wheelchairs."
The development would 'help to enclose the southern side of the section of canal that extends into the town centre towards the Art Gallery', the report states.
The multi-million pound cinema complex put forward by Light Cinemas will also be built and is due to be completed by around May next year. The £64m Walsall College Wisemore campus was the first development to take shape as part of the project.
It opened its doors in September 2009 after more than 18 months of construction. The new business and enterprise hub will include a community sports facility, including a sports hall, gymnasium and dance studios.
Also in the town, the neighbouring Gigaport project is also set to host a cinema, pharmacy and office blocks to create a business corridor’ through the town. The new 20,000 sq ft headquarters in Walsall town centre will form part of the one-and-a-half acre site and aid with the expansion of the business.
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