Today (6 January), JDW submitted a revised planning application for the ambitious redevelopment at its Lichfield Street venue, which includes building a 'heritage centre' as well as converting the upper floors into a hotel.
The transformation intends to generate around 50 new jobs too.
JDW spokesman Eddie Gershon said: “We are proud to be investing in such a wonderful city as Wolverhampton.
“The Moon Under Water is an extremely popular pub in the city and the planned redevelopment highlights our commitment to offering our customers the best pub possible.
“The addition of a hotel and heritage centre will be great additions too.”
The original plans were officially approved by City of Wolverhampton Council last year, but JDW has submitted revisions that include an additional sixth floor set back from the front elevation of the building, to take the total number of hotel rooms to 90.
The heritage centre will now also occupy a larger area than originally planned, making use of the basement as well as the ground floor.
City of Wolverhampton Council cabinet member for city economy, councillor Harman Banger, added: “This exciting project will help transform one of our key city centre streets.
“It will breathe new life into this building and forms part of the £1.1bn investment in the city centre, further demonstrating the growing confidence in our city.
“It will deliver a significant number of jobs and for a national chain like Wetherspoon to choose the city of Wolverhampton for its national heritage centre is an honour.”
Art deco frontage
The 40,000sq ft space above the pub, with its art deco frontage, has been empty for more than 30 years after being home to the old Co-op store.
The building sits opposite the Grand Theatre, which has had plans approved to expand into the former post office next door to develop a pop-up theatre, while City of Wolverhampton Council is proposing to pedestrianise part of Lichfield Street.
The new-look pub and hotel are expected to open fully later in 2020, with a date yet to be confirmed for the official opening of the heritage centre.
During the works, the city centre pub will remain open for business to the public.