The flagship £105m Salford scheme will deliver 500 homes for rent and to buy and forms part of a £365m development pipeline for the new business.
Scott Hammond, managing director of Essential Living between 2012 and 2017, has also acquired sites in Exeter and Birmingham.
The firm’s strategy is to focus on delivering mid-market homes across a range of tenures close to transport hubs.
The Salford scheme will be spread across two adjacent plots in the inner-city Ordsall area on the banks of the River Irwell, a short distance east of MediaCityUK.
This area is currently seeing a boom in development, with 1,250 residential units in planning.
Eutopia’s £130m Exeter site will deliver 104 houses and 66 apartments for sale, 230 build-to-rent homes and a 65-bed retirement community across 15 acres of land acquired from Network Rail.
Subject to planning in the new year, start on-site is expected next autumn.
In Digbeth, Birmingham, Eutopia has submitted plans for £130m mixed-use scheme featuring a 167-bed hotel, affordable workspace and 480 homes on a four-acre site acquired from Mucklow.
The site is occupied by engineering firm Sulzer, which is moving to a new purpose-built facility next summer.
Darling Associates are the architects across all three projects.
Scott Hammond, founder and CEO at Eutopia Homes, said: “UK regional cities are attracting swathes of investment, thanks to rising student retention rates, improving culture and leisure scenes and new employment opportunities driven by major corporates moving operations outside of London.
“By creating mixed-tenure developments, we can help create genuine communities, accelerate delivery and de-risk development while meeting a range of housing needs.”