A supermarket and 1,000 homes will be built in South Macclesfield if draft proposals published for consultation by Cheshire East Council go ahead.
The regeneration potential of the South Macclesfield Development Area would be realised in two phases.
The proposed first phase would see an outline planning application for the relocation of the existing playing fields to an upgraded facility, the first section of link road connecting to Congleton Road, a supermarket and up to 400 homes. A further 600 homes and sports and leisure facilities are possible proposals for a second phase of the development.
A masterplan for the 155-hectare site has been drawn up and earlier this year Cheshire East's Cabinet gave the go-ahead for the Council to acquire the land necessary to ensure that the whole of the development proposals for SMDA are ultimately deliverable.
This has been undertaken by the council's new delivery company, East Cheshire Engine of the North.
Cllr Michael Jones, leader of Cheshire East Council, said: "Macclesfield is one of the 'jewels in the crown' of Cheshire East and we need to take the lead to help make it shine.
"The SMDA will help take housing applications away from the greenbelt, which is vitally important to local people and this Council.
"Bringing jobs, businesses and housing to this site has been mooted for around 20 years and there have been many false starts. Under my leadership, this Council is now bringing proposals forward to make this transformation a reality.
"These SMDA phase-one proposals are the key to unlocking the potential of the wider 63-hectare site and would complement the £100m Silk Street scheme [by Wilson Bowden] to regenerate the town centre. It would also be a catalyst for transforming the fabric of the economy of the south of Macclesfield as a whole and help improve quality of life for local people.
"The proposals also allow us to develop much better connectivity and reduce traffic on the Moss Rose estate and Moss Lane with the proposed new link road."
A report submitted to the Council's Cabinet earlier this year said: "The SMDA remains a vital part of the Council's development strategy.
"It is therefore considered essential for the Council to take the initiative and promote the fist phase development… to create new physical infrastructure which will help unlock the site as a whole."
The proposals would deliver a new junction in Congleton Road, which will be a key connection point within the proposed Macclesfield Relief Road, which will ultimately link to London Road.
The Phase One proposals are now available for public viewing on weekdays until Friday 20 December, from 8.45am to 5pm, at the Customer Service Centre in Macclesfield Town Hall.
It is proposed that an outline planning application will be submitted to the Council on 17 January 2014.