Urban Splash is running the contest to find a firm that can come up with a cutting-edge, sustainable design incorporating a quality public realm and flexible leisure and performance space.
Residential buildings, offices, bars, restaurants and a hotel might also be included in the 0.19ha site, known as LEX.
Urban Splash Midlands managing director Nathan Cornish said: "A gateway location, the LEX site is a blank canvas framed by fantastic canals. We're looking for that 'wow' factor - not for the biggest names but the most exciting designs."
The triangular site, bordered on two sides by canals, is the second phase of the Walsall Waterfront development. Phase one has been designed by architects' firms SMC Alsop, Shedkm and Feix Merlin. The contest comprises three stages and is open to registered architects or designers in collaboration with other design disciplines.
- For further details, see www.architecture.com/competitions or www.lexwalsall.co.uk.