Keepmoat has been appointed by Salford City Council as its preferred development partner to deliver 430 family homes on a stalled site in Charlestown Riverside.
The site was previously to have been developed by Miller Homes and ID4Living under a New Deal for Communities programme but the agreement ended in 2013.
Keepmoat said it will shortly launch its consultation with local residents and stakeholders, to find out what people want to see from the new development.
Salford City Mayor Ian Stewart said: "This is another milestone in our 10 year partnership to bring new jobs, opportunities and homes to Charlestown Riverside. There will be a wide mixture of new homes for both sale and rent to breathe new life into a formerly run down area. I look forward to work starting on site later this year."
Ian Fletcher, head of land and partnerships at Keepmoat Homes North West, said: "We will deliver over 400 new high quality family homes, across a range of sizes and prices, available for either sale and rent, to retain local residents within the City of Salford as well as to attract a broad mix of new residents into this community.
"This also plays a key part in Salford's current building boom, creating new homes for a growing population and the continued economic growth of Greater Manchester. We are looking forward to working in partnership with Salford City Council and the community to realise this vision."
Sandy McBride, regional managing director of Keepmoat Homes North West, said: "Our selection as preferred developer partner provides Keepmoat with an exciting opportunity to build high quality new homes at affordable prices in Salford, and continue our expansion at the heart of Greater Manchester. It's a landmark step in the growth of our regional business."