The flagship scheme forms part of a fresh strategic business direction by the developer to transform its existing city centre assets beyond pure retail.
Its City Quarters concept will see existing shopping centres expanded with housing, workspace or hotels.
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 workspace.
Work is slated to start in 2022 and will be Hammerson’s next major development after planned flagship shopping centre schemes at Croydon and Brent Cross were put on hold due to the retail slowdown.
The 7.5-acre Martineau Galleries site will also deliver a signature gateway to Birmingham from the proposed Curzon Street HS2 terminal.
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.
Robin Dobson, UK Director of Development and Project Management at Hammerson said, “Our plans for Martineau Galleries represent a step-change in our strategy, moving beyond pure retail, as we continue to deliver vibrant, continually evolving spaces, in and around thriving cities.”