Two years after winning preferred developer status on Talbot Gateway with Blackpool council, Muse Developments has signed a development agreement for the £220m scheme.
The 25-acre project around Blackpool North Station and Talbot Road will deliver 1.6m sq ft of commercial space alongside hotels, supermarket, retail and leisure.
Sir Howard Bernstein, chairman of ReBlackpool and chief executive of Manchester City Council, said: "This agreement marks the culmination of three years of hard work and marks a significant milestone in the regeneration of Blackpool and its transformation into a year-round resort.
"This project will transform a neglected and under-utilised area of the town into a welcoming family-friendly gateway, encouraging more people to visit, providing better services for local people and encouraging inward investment."
Blackpool council will relocate to become anchor to the scheme in a new building in a pedestrianised square.
Other proposals include new town centre parking facilities and a public transport interchange, replacement courts, divisional police headquarter buildings, a health centre and a new library.
Muse Developments was selected as preferred developer in 2007 and since then has been working closely with ReBlackpool and Blackpool Council to refine the plans. The signing of this agreement marks their commitment to the project and the town itself.
Mike Horner, regional director of Muse, formerly Amec Developments when the preferred developer status was awarded, said: "Even in these difficult economic times we are confident of our investment in Blackpool and we now look forward to working alongside the council and the NWDA to bring about change on the ground at the earliest possible opportunity."
It is hoped work will begin on site in around two years' time after local consultation, followed by the submission of outline planning for the scheme and the gaining of planning permission.