Capital & Centric is restoring Eyewitness Works and Ceylon Works on Milton Street, not far from Devonshire Green, and erecting a six-storey building on the site of the former Brunswick Hotel.
The company also wants to create the 15-acre Mesters’ Village with more than 2,500 homes, maker spaces, cafés, bars, delis and a school.
The Manchester-based firm says the scheme could take five to 10 years.
The Eyewitness Works development is set to open in 2022 and will include 97 townhouses and loft apartments.
Plans have already been approved for other schemes including an 860-bed student housing scheme.
Main construction work has begun on the £25 million conversion of Grade II-listed Eyewitness Works and Ceylon Works – previously used by historic manufacturer Taylor's Eye Witness, now headquartered on Parkway Close – into flats.
Click here to see a fly-through video of Mesters’ Village – screenshots are included below as well as more detailed CGIs.