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15 April 2010, 05:40 | Updated: 15 April 2010, 09:12
Hardware firm Mackays, which has been based on Cambridge's East Road since the 1930s, is to make way for flats, student accommodation and a hotel.
Managers at the store are now looking to relocate their business.
Architects Freeland Rees Roberts has stated that the new buildings will provide renewable energy sources, and the development as a whole will compliment larger buildings surrounding the site, such as the Crown Court.
The plans will go on public display on three dates over April, at nearby St Matthew's Church Hall, St Matthew's Street, Cambridge.
Experts will be on hand to answer questions from:
Tristan Rees Roberts, director of Freeland Rees Roberts, said: "We are actively consulting with the local community to communicate the plans and hope to submit our planning application in May after this consultation exercise."