Sir Robert McAlpine has already been signed up to deliver the 80,000 sq ft scheme at a site in front the Gateshead Millennium Bridge.
The development includes a 12,500-capacity arena, conference and exhibition space; two hotels, bars, restaurants, car parking and extensive areas of public realm.
The Council will be submitting a planning application later this year for a multi-storey car park on Baltic Quarter to service the development.
John Hughes, managing director of one of the partner developers, Ask Real Estate, said: “Our appointed contractors Sir Robert McAlpine have been engaging with the technical teams and with the arena operator ASM Global and we have signed-off stage 2 designs for what will be a world-class events destination.
“We are hopeful that the scheme will achieve full planning consent later this year and look forward to delivering this superb facility for the North East as soon as possible.”
The new complex is set to open in 2023.
The project team also includes: Project Manager, Legends; Gardiner and Theobald, QS and ARUP as both structural and M&E engineer.
AHR Architects is designing the overall masterplan for the site.