The mixed-use development will feature a 43,000ft² leisure centre and include 96,000ft² of retail space and restaurants, coffee shops and cafes, a 7,400ft² bowling alley, 150 apartments and townhouses, and 35,000ft² of Grade A office space and a parking.
Outline planning permission for the 4.5-acre Altair site was granted to Nikal in January 2014.
Eric Wright Construction is awaiting final planning permission for the site and intends to start site preparation works for the project within the month.
Construction works for phase one will start following development of a new £19m tram, train and bus transport interchange that will offer a direct link to the scheme via a new public walkway.
Expected to start in early 2016, the first phase will lead to construction of an apartment scheme with 59 high-quality one and two-bedroom apartments, along with ground floor leisure retail space and a new entrance for the existing ice rink at the centre of the scheme.
Eric Wright Construction managing director John Wilson said: "Altair will completely transform a prime town centre plot and further strengthen its capabilities to generate significant inward investment.
"Altrincham is a hot spot for suburban living and has proven to be a popular commuter belt for city centre workers.
"We look forward to getting our teeth into the scheme and delivering a stunning contemporary end-result that meets current and future needs."