PJ Livesey Group has been named development partner for Manchester Metropolitan University's surplus 17-acre Didsbury campus.
The specialist heritage housing developer will work in partnership with MMU to bring forward a planning application for the site in line with the council's regeneration framework.
Proposals will include a residential development on the main campus alongside the refurbishment and conversion of listed buildings, the provision of a primary school on the site of the Broomhurst Hall of Residence, and a transfer of the playing fields to the local community for recreational use.
MMU is consolidating its operations from seven campuses to two, located around Oxford Road and the new Birley Fields site in Hulme.
James Woodmansee, group development director at PJ Livesey, said: "The group's experience, track record and commitment to quality ensure we will be able to deliver on the aspirations of MMU, Manchester City Council and local residents.
"This is a unique opportunity to create an exemplar development that will form a natural extension to Didsbury Village providing unrivalled new homes of a scale that can really make a difference to the provision and profile of housing within the city.
"It is an opportunity not to be squandered. We have a responsibility to deliver on these aspirations without compromise. A diluted version simply will not produce the legacy and standard which should be demanded by all those involved.
PJ Livesey, based in Trafford Park, said it would work with Calderpeel Architects, Ryder Landscape Consultants and HOW Planning on the designs for the homes.
The sale is subject to planning approval being granted.
PJ Livesey Group was advised by Anne Irwin of Slater Heelis Cottrills.
DTZ advised MMU.