The MCR Property Group’s Gasworks New Town project will be built at the site of the former Rochdale Road Gas Works that has been home to a car park for years.
Designed by architect AHR, the project will comprise townhouses and apartments on the 6.6-acre site.
Planned to be developed in four phases, it will include 192m² of commercial space and nine separate buildings, which range from eight to 34 storeys in height.
Construction on the scheme is set to commence within the next months, with the tallest residential tower planned to be completed by the end of 2030.
The project involves a pedestrian route and cycle path running east-to-west through the site, as well as a public park between Gould Street and Bromley Street.
MCR also partnered with Far East Consortium, which is jointly funding and developing the Victoria North masterplan on the Gasworks New Town project.
The project will feature electric charging points on every parking space and more than 1,000 cycle spaces.
The scheme is one of seven projects proposed by the £4bn Victoria North masterplan, which aims to transform the entire area north of the city centre by the delivery of 15,000 new homes across 383 acres over the next 20 years.
AHR regional director Dan Barnes said: “The development breathes new life back into this former gasworks brownfield site, creating a unique series of pedestrian-friendly public spaces that navigate the dramatic 14m change of level across the site whilst creating new connections to the surrounding streets, Angel Meadows and the River Irk.
“Framing these spaces, we have designed a series of contemporary brick and low carbon impact residential buildings with active frontages and own-front-door townhouses, culminating in a 34-storey brick and corten steel tower adjacent to the viaduct, looking back towards the city and out across the Irk Valley.”