Wolverhampton council is planning a new canalside quarter and 2,123 homes to be built in the city by 2026.
The 12-year regeneration includes 630 homes in a canalside development, and a new Molineux Quarter to be built around the Wolverhampton Wanderers stadium.
It also includes shops and leisure space around the Springfield Brewery site, and a new supermarket on the Peel Centre site on Stafford Street.
A new cinema will also be built near Penn Road Island.
The project will also feature numerous public realm improvements, and will be discussed further this week.
