Derby City Council has unveiled plans for the £108m ($173.4m) Castleward Urban Village Scheme in Derby, UK.
The council has appointed Compendium Living as the preferred development partner for the regeneration.
The regeneration plan includes transformation of a 121,405m² area into a sustainable community with 800 new homes, a school, community spaces, green areas and commercial development.
The entire regeneration scheme is expected to be completed in ten years.
The first phase of the development will include construction of 70 homes, 2,500m² of commercial space, community facilities and a new central park.
Work on the first phase is scheduled to begin in early 2012.