The developer, which owns and manages the nearby Bullring & Grand Central, plans to demolish existing buildings to make way for 1,300 homes, including one building of 35 storeys, and 1.4m sq ft of commercial space.
The 7.5-acre site will also deliver a signature gateway to Birmingham from the proposed Curzon Street HS2 terminal and a new public square and boulevard.
Plans for the site, which currently includes The Square Shopping Centre, King’s Parade and Dale End car park, have been designed by Glenn Howells Architects.
Around 350 full-time construction jobs will be created per year over the life of the demolition and construction phases of the project.
Following the public consultation, Hammerson intends to submit an outline planning application to Birmingham City Council later this year, with the aim of starting works in 2022.
Robin Dobson, Development Director at Hammerson, said: “We are pleased to share the plans for our first major City Quarters scheme for this strategically important site in the heart of the city.
“Martineau Galleries will be a new, vibrant neighbourhood in the centre of Birmingham, where we are already a long term investor, with the Bullring Estate remaining one of the UK’s most successful destinations for both brands and consumers.”