Secretary of State Eric Pickles has confirmed the compulsory purchase order for English Cities Fund's Salford Central development.
The decision clears the way for Salford City Council and English Cities Fund to deliver 850 new homes, 2m sq ft of offices, along with ancillary leisure and retail space.
Phil Mayall, development director of Muse Developments, lead partner in English Cities Fund, said: "While the two parties already own the majority of land required to deliver the scheme, or have agreements in place with the owners, this decision marks another significant milestone in the delivery of this comprehensive regeneration scheme.
"The partners will continue to work together with those parties affected by the order to ensure that any disruption or disturbance will be kept to a minimum. ECf is now working towards submitting a planning application for the first phase of development and a further announcement will be made in due course."
Ralli Sollicitors based in Ralli Courts next to the Mark Addy pub on West Riverside and New Bailey Street was the last remaining objector to the order.
ECF is a joint venture of Muse Developments, Legal & General and Homes & Communities Agency.
The development aims to unlock potential around Salford Central railway station and provide comprehensive regeneration along the main road through the area, Chapel Street. The architects on the scheme are RHWL.
Some work has already started, with the completion of road improvement work along Chapel Street. The new bridge in New Bailey, is due to open in spring linking the development to Spinningfields.
Cllr John Merry, leader of Salford City Council, said: "This is excellent news for the continued regeneration in the city and is the culmination of many years of planning and work from ourselves and English Cities Fund.
"But now that the order has been granted the work will really begin, and English Cities Fund can progress its planning applications to drive this development forward.
"This is one of the most historic areas of the city and we want to restore it to its former glory, while bringing in new businesses and tenants who can boost the city's economy and create sustainable jobs and opportunities for the future."