South Lanarkshire Council will consider the proposals for Owenstown, a development of 3200 affordable homes in the Douglas Valley near Lanark.
A decision is expected next year.
Robert Owen improved the lives and working conditions of mill workers at New Lanark 200 years ago.
Planners of the new town say it will be self-sufficient, eco-friendly and run on a co-operative basis by residents.
The Hometown Foundation, established to help build self-sustainable communities and regenerate rundown areas, is behind the project.
If given the go-ahead, the town will be built on 2000-acres near the village of Rigside and will eventually provide homes for 8000 people.
Waste would be used to heat homes and transport powered by renewable sources.