UK-based developer Allied London has gained planning permission for the first phase of its £1.3bn redevelopment of the St John's neighbourhood in Manchester.
The planned development will comprise of 2.8 million square feet of workspace, events space, public realm, riverside parks, gardens, hotels, arts venues, independent shops, cafes and restaurants.
Allied London is expected to start development works for the project in late 2016, which will also include 1,450 new homes.
The firm had purchased the Quay Street site in a joint venture with Manchester City Council.
Allied London chief executive Michael Ingall said: "Manchester has always been at the heart of enterprise, arts and culture and St John's will provide a platform for the city to cluster creative enterprise and activities, and flourish with workspace, theatre, music, performance, events, craft workshops and independent retail at the heart of our new neighbourhood."
To be developed at the site that formerly housed ITV Studios, the regeneration scheme is one of the chief projects under the Northern Powerhouse initiative.
Planning consent has also been granted for Old Granada Studios, South Village and Bonded Warehouse, which are all parts of the initiative.
The neighbourhood project will lead to the development of a cluster of four mixed-use buildings of varying heights.
Plans for the project were submitted by the developer in August.
Besides St John's Place, the project includes provision for developing The Villages, The Riverside, and Manchester's first vertical village, Trinity Islands.