A former patch of industrial land in north Sheffield is to be transformed into a £42 million complex made up of housing, shops, offices, restaurants, cafes, car parking and a new link road.
Contracts have been signed for the sale of land and construction of the development on a 15-acre site in the Fox Valley at Stocksbridge.
Developers Dransfield Properties say the scheme will create up to 900 jobs.
Included in the plans is a giant new Tesco supermarket and new warehouse for Tata Steel.
There will also be office space, a 635 space car park, retail, restaurant and cafe units and a new housing development.
The development is due to be completed in early 2016 and includes a link road to the A616.
Construction of retail and leisure areas will begin later this year.