A report from Dublin City Council has recommended the sale of the Magdalene Laundry site on Sean McDermott Street go ahead.
Plans were proposed back in 2017 to sell the site to Japanese hotel chain, Toyoko.
It was the last such laundry in Ireland and closed in October 1996.
The report says Toyoko will spend in the region of €50m on the project during construction - creating some 700 jobs.
A supermarket and other retail operations such as cafes, a hairdresser and food outlets will also be established.
An indicative image of a proposed sensory garden memorial on the Sean McDermott Street site | Image: Dublin City Council
The report notes: "Dublin City Council is very conscious of the history of this property/site (The Laundry part of the premises was demolished in 2005 following a fire) and the controversial role also played by the Magdalene Homes at other locations throughout the country.
"It is very appropriate that a suitable permanent memorial be included in any proposed redevelopment of this property/site.
"Therefore there will be a specific condition in the development agreement with Toyoko for the provision of such a memorial."
An indicative image of retail units along Sean McDermott Street | Image: Dublin City Council
On the sale itself, the report says: "We believe this is a powerful opportunity and really the chance of a lifetime for the Sean McDermott area."
It says a formal proposal will be brought to an October meeting of the council.
"Management will be strongly recommending that this essential redevelopment opportunity for Sean McDermott be taken and that the proposed disposal be agreed", it adds.