The seafront project is aiming to revive the crumbling Victorian arches with shops, restaurants and offices, incorporating a premium hotel operator.
Though the hotel partner has not been named, Soho House was granted permission for a major development on the seafront area in 2015, but progress appears to have stalled.
Plans submitted to Brighton and Hove City Council show Boxpark is hoping to secure a 12 month exclusivity period to explore design, funding and management opportunities for the project.
Boxpark founder and Brighton and Hove resident Roger Wade developed the plans alongside Chalk Architecture.
“As a Brighton and Hove resident, I’m passionate about the regeneration our of outstanding sea-front,” says Wade.
“Madeira Terrace is the embodiment of the Victorian grandeur that saw Brighton become the UK’s favourite seaside destination. Our proposal aims to redevelop this much loved area to create a year round retail and leisure destination to be enjoyed by local residents and visitors to the coast alike.”
Brighton-based Boxpark runs two “pop-up” street food and retail malls in London's Croydon and Shoreditch, with a third launching in Wembley later this year.