English Cities Fund will today submit an outline planning application to transform 44 acres in the centre of the city.
The public-private development joint venture, supported by Central Salford urban regeneration company, said the application is larger than that submitted for the first phase of Media City UK and will link sites such as Salford University and The Crescent, Chapel Street and Spinningfields.
The proposed development includes: 2m sq ft of office space, 864 new homes and 390 hotel rooms.
Chris Farrow, chief executive of Central Salford URC, said: "We've always appreciated that whilst MediaCityUK 'makes us famous'', our regeneration of Chapel Street is what the URC will be judged by."
It includes a number of distinct areas including Salford Central Station, Chapel Street, Adelphi and the Historic Core, which features the Adelphi and Bexley Square Conservation Area and listed buildings such as St Philips Church and Salford Cathedral. A new square, St Johns Place, is planned to maximise the view of the newly renovated Salford Cathedral. A new commercial quarter will make the most of Salford's strategic location next to Spinningfields and the corporate heart of Manchester.
Phil Mayall of English Cities Fund said: "This mixed-use scheme will encourage the development of a sustainable community, capturing benefits for both the neighbouring and wider Salford areas. It is an important first step on the road to regenerating what was formerly the civic heart of Salford."
ECF is made up of Muse Developments, Homes & Communities Agency and Legal & General. There will be a public viewing of the plans at Salford Central/St Philips Church from 10 to 12 August.