The Gorton Street site projects will provide 485 co-living units and a 171-bed lifestyle hotel.
The scheme also includes eight railway arches that will be repurposed into social and leisure spaces within the area.
Contracts have been exchanged with Network Rail, the landowner, and it is hoped that work will start on site before the end of the year.
David Fairclough, director at Progressive Living Developments, said: “Reaching this latest milestone in the development of Gorton Street is a great achievement for everyone involved.
“We have taken our time to design a scheme that will be an attractive, vibrant addition to the area.
“Greengate has seen huge investment over the past few years, it is transforming into a sought-after place to live, and we look forward to playing our part in its ongoing regeneration.”
The professional team includes Artal, Turley, BDP, Renaissance, Novo, Exterior Architecture, GIA, Our Studio, Hann Tucker and Hydrock.