A £500m scheme to transform Dumballs Road in Cardiff has been drawn up by developer Bellerophon.
The 2,150 home Cardiff Embankment project will transform a white elephant derelict site, after an earlier plan for the council to part-fund a scheme was rejected.
Work is expected to begin in spring 2015, pending an application to be submitted in the coming weeks.
The 33-acre industrial brownfield site has been the target of numerous regeneration attempts over the past 30 years.
Bellerophon has secured conditional agreements with the owners of nearly 70% of the land at Dumballs Road, with negotiations ongoing regarding much of the remainder.
