Manchester Place is looking for a development partner to lead a long-term housing initiative that could produce up to 7,000 homes.
The joint venture between the city council and the Homes and Communities Agency wants to build the homes in the Northern Gateway across 10-15 years.
The former industrial heartland includes NOMA, the Lower Irk Valley, New Cross and Collyhurst.
Manchester Place is to launch a tender process shortly for a developer for the regeneration with financial capacity to invest heavily up front.
The Co-Operative group, which is delivering NOMA in partnership with Hermes Real Estate, will be involved in the search for an investment partner.
Council deputy leader Bernard Priest said: “The Northern Gateway provides the means to expand the city centre northwards, connecting the neighbourhoods of New Cross, Lower Irk Valley and Collyhurst to the core of the city to deliver a diverse range of new homes that will meet the needs of a growing population.”
Manchester Place chief executive Deborah McLaughlin said: “The Northern Gateway represents a huge opportunity to work with investors and developers to create unique and attractive neighbourhoods with exceptional facilities, close to city centre employment opportunities.”
