The updated masterplan, officially entitled The Bowl Neighbourhood Development Framework, now features a much smaller mirror pool in place of his original plans to flood a huge part of the city centre.
In response to public concerns about the proposed lagoon in Centenary Square, SMC Alsop has reduce the size of the water by one third 'making it safer and more manageable'.
Under the new masterplan the mirror pool will be able to be drained to create space for large outdoor leisure and community events.
Elsewhere, there are plans to build a new 'Business Forest' - a series of buildings on stilts at the bottom of Manchester Road - and create a new gateway to the city's transport interchange.
St George's Hall will be remodelled to create a new concert hall and conference facilities, while a new museum space and library building called the Lightwave is also proposed.
To make way for this development, the exisitng police station and magistrates' courts are expected to be decanted to another site in the city centre.
Bradford Council's executive member for regeneration councillor Andrew Mallinson said: 'The Bowl is the fourth and final 'finger' of regeneration proposed by Will Alsop for the city centre and is undoubtedly full of very exciting proposals.
'Plans to create a city park featuring a mirror pool really stand out and these ideas have been developed after taking on board concerns expressed by the public for a lake outside City Hall, which were originally earmarked in the masterplan.'