The landmark Wide Bargate building has stood vacant since February 2014, when the Post Office re-located across the road to WHSmith.
The Grade II listed premises was purpose-built from the Post Office in 1907.
Under plans submitted to the council by Peterborough-based Red Lion Wide Bargate Ltd, the ground floor frontage to Wide Bargate would be retained in commercial use, with the remainder of the ground floor and two storeys above it converted to 22 residential apartments.
In documents submitted to the borough council, agents Barmach Ltd writes: “Whilst the proposal will result in the loss of employment floor space, it is material that the site has been vacant for several years and that parts of the building are in a state of physical decline. “Given the lack of vehicle parking and servicing space the retention of the whole site in commercial use is unviable.”
It argues: “The change of the remainder of the building to residential use will also contribute to the vitality and viability of the town centre as a whole as it will increase the number of people living within it and reliant upon it for goods and services.
“It will also bring a Listed building back into active use, thereby helping to preserve the building and the character and appearance of the Boston Conservation Area.”