Halliday Fraser Munro architects have lodged plans to construct a civic square above the city's railway station, with the main entrance moving to Union Street. A majority of the Victorian gardens would be retained, but it is understood the Denburn dual carriageway and railway line will be covered over.
The plan has received support from two of Aberdeen Council's largest political parties, but it has not been revealed if Sir Ian Wood will also support the project.
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Sir Wood's pledge of £50m was fundamental to the original design plans for Union Terrace gardens, but they were dropped when Labour took control of the council in 2012.
The previous administration, led by the SNP, had supported the £140m project.
Deputy Council Leader Marie Boulton said the new plans by John Halliday, of Halliday Fraser Munro architects, are a "transformational project".
She added: "I think he's grasped the nettle. We have problems particularly with the access into Aberdeen through the train station, whether it's pedestrian or vehicle access, and I think [the solution is achieved] by getting footfall back onto Union Street."
SNP group leader Callum McCaig is quoted as saying: "We were obviously in favour of the City Garden Project. We felt that that would have delivered the transformational change and obviously had the mandate from the people.
"The most important thing is that we deliver a real, vibrant beating heart in the city centre. I think this has got a real possibility of achieving that."
(JP/MH)
