UK-based property developer Barratt is expected to be selected as the regeneration partner for the £1bn ($1.59bn) town centre regeneration in Essex, England.
Basildon Council will formally approve the deal this week.
Upgrade works will take place over a 20-year period and include the construction of 158,496m² of retail and leisure space, 164 offices and 3,650 homes.
The regeneration will also incorporate a hotel and a college, and Gloucester Park, town centre squares and transport facilities will also be improved.
Basildon Council leader Tony Ball said the first task would be the preparation of the master plan, coupled with developing the plans for the first retail and leisure phase.
“Plans will be submitted for the first homes, which will provide initial funding for the regeneration project,” said Ball.