The application, for land on Queslett Road East, has already passed the first hurdle after Walsall Council planners issued a ‘screening opinion’ stating that in-depth environmental impact assessments would not need to be carried out for the project.
If the plan progresses, two buildings will be constructed with 53 flats created in total along with a parking space for each.
Agents for the developers said the scheme would be an improvement on the current derelict site and there was a need for such accommodation in the borough.
Michael Robson, of Creda Planning Ltd, said: "Being a redevelopment of a former petrol station, the intention is to improve the quality of the existing site, from a vacant lot to a high quality development with a strong community feel.
"The development of this site will provide high-quality apartments for over 55s and in doing so will assist Walsall Council with their strategic aspirations and housing requirement for specialist accommodation.
"The site is sustainably located and easily accessible in terms of local facilities and services."