Its ambitious regeneration plan includes building 350 homes and 325,000 sq ft of retail, leisure and offices.
The developer acquired the 21-acre site near Manchester city centre earlier this year from Grant Thornton, acting as administrator to Valley & Vale Properties for a reported £10m.
Under the plan, The Manchester, Bolton & Bury Canal passing through the site will be cleaned up and and new woodland planted.
Lee Savage, development director of Scarborough, said: “Middlewood Locks is a huge site which has the potential to create a thriving new neighbourhood for Salford, bringing an opportunity for a range of homes and jobs.
“Scarborough Development has worked closely with the local community and come up with what we believe to be a really exciting scheme, so I’m looking forward to revealing the plans and finding out what people think.”
A planning application is scheduled to be submitted early in the New Year.
Scarborough’s project team includes architects Studio Egret West and development consultants RED Property Service.