The Swan in Hythe Hill, Colchester, has fallen into a state disrepair since it closed its doors and remains boarded up.
The historic Grade II Listed building is said to be rotting in places and water egress near electric sockets present a “real risk to human life”.
It is rich in history, including an inscription “W. Corder hung August 11, 1828” scratched into its brickwork.
The words refer to the hanging of William Corder, who murdered his lover in the village of Polstead in Suffolk, shooting her and burying her body in a red barn.
Developer Stef and Philips has now applied to carry out vital repairs to the property in order to conserve its significance as a heritage asset.
Old Heath and the Hythe councillor Mike Lilley said: “It is great that the developer wants to save it because it needs saving. It has been in wrack and ruin for some years now.
“It looked like it was heading for someone knocking it down and that would have been a real shame.
“It really needs to be taken on by the history people in the town and preserved in this way.
“It would be nice if someone bought it off the developer and turned it into a Civil War museum.”
Planning documents submitted by Stef and Philips state the building was most recently used as accommodation.
However, it was made vacant after the property was deemed “unfit for continued occupation” due to the urgent works required.
Some of the work needed includes replacing the “irreparable” timber sash windows with like for like replacements and securing the brickwork to protect from water.
Rotting and damaged floor joists also need to be replaced before the former pub can be proclaimed safe.
A planning statement reads: “There would appear to be water egress near electric sockets that presents a real risk to human life.”
It adds: “Over a great number of years and poor workmanship the fabric of this Listed building is threatened.”
Colchester Council will determine the plans.