The huge scheme will see around 3,500 homes built, with more than half of them affordable.
An outline planning application lodged in March set out the first 400 homes to be delivered for social rent, with the remainder to be brought forward through a partnership agreement between Lovell, registered providers and the council.
Plans also include later living homes, a new high street, sports and community facilities, and upgraded transport and green infrastructure.
The council and Lovell are now working on a formal partnership agreement due to be signed in spring 2026. Once agreed, work on the transformation of the south Birmingham estate can finally begin.
Lovell regional managing director Stuart Penn said: “This is about more than bricks and mortar: it’s about creating opportunity, improving lives and leaving a lasting legacy for future generations.”
Meanwhile in Wales, the housing contractor’s Cardif office has also just finalised contracts with Cardiff Council and Vale of Glamorgan Council on the major Cardiff and Vale housing partnership.
Lovell was selected as the preferred developer earlier this year to deliver the large-scale programme, which will consist of around 2,500 new homes, provided over 25 developments and constructed over the next 10 years.
Construction work on the first project under the partnership is due to commence in December 2025, with the first properties due for occupation towards the end of 2026.