Developer Southvalley Estates, part of MCR Property Group, which has owned the land since 2015, has opened its plans for public consultation.
It aims to turn the 2,7ha site now used for surface car parking into a thriving new urban neighbourhood, in line with Manchester City Council’s Northern Gateway initiative.
The Gasworks New Town will also include commercial units, a park located off Gould Street and new pedestrian and cycling routes through the site.
Comprising a mix of townhouses and apartments in mid-rise blocks, the proposals also aim to build a 33-storey tower at the north-east corner of the site.
Working with planning consultant, WSP, the developer will submit plans to Manchester City Council later this year.
If planning permission is granted, Southvalley Estates and National Grid will begin to clear the site and remediate the land in 2021 or 2022.
The development is intended to be built in four phases, starting with the corner on Gould Street closest to Rochdale Road, with homes hopefully ready for occupation by the end of 2023.
The residential tower is likely to be the last piece of the development to be built, towards the end of the current decade.
Nick Lake, asset manager at MCR Property Group, commented: “Our vision for this site has been a labour of love over the past few years.
“Our ambitious proposals for The Gasworks New Town realise the development potential of a key city centre location and the aspirations for the Northern Gateway.
“We have worked in close collaboration with Manchester City Council to bring forward a major transformative development that will create a new beating heart of a community in close proximity to the city centre. We look forward to finalising the formal planning application in line with public feedback.”