The Manchester-based developer wants to build a 200-home scheme on the former Central Retail Park and is asking the public for feedback on its proposals.
Capital & Centric, in collaboration with the local council and the borough’s inward investment organisation, Rochdale Development Agency, said it will deliver a mix of high- and low-rise houses, as well as apartments, through its Neighbourhood housing concept.
Neighbourhood, previously known as Nowhaus, is a model of affordable housing that maximises living space within the property as well as allowing for high-density development.
Rochdale Council bought the 4.7-acre plot, close to the town’s train station, from Town Centre Securities for £13m in 2018.
Capital & Centric’s project will also include a public linear park, events pavilion, and food hall, according to Capital & Centric.
Architect ShedKM designed the development and Willmott Dixon is lined up to build it, subject to planning approval.
Willmott Dixon recently completed the £80m leisure and retail development at Rochdale Riverside and is due to start on phase two of that project later this year.
Tim Heatley, co-founder of Capital & Centric, said: “Neighbourhood Rochdale goes beyond just building new homes, it’s about rebooting the town centre and creating a proper community.”
The plans are part of the £400m regeneration of Rochdale town centre and the council’s rail strategy, which aims to level up the town centre with 7,000 homes around the borough’s five railway stations.
The consultation runs until Friday 4 June.