Long-awaited plans to develop the Church Wharf site in Bolton town centre have been submitted by Manchester-based developer, Watson.
The planning application for 415 new homes has been submitted to Bolton Council.
The four-phase development will also feature a 130-bedroom hotel, as well as commercial spaces for bars, restaurants and shops.
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Watson said Church Wharf is designed to complement other ongoing residential developments in the area, including Moor Lane and Deansgate Gardens.
The new homes will comprise a mixture of one, two and three-bedroom houses and apartments. Watson announced that 'a selection will be available for affordable tenure'.
The planning application follows Bolton Council's provisional agreement to sell the land to Watson for just £4 in early 2024.
The scheme is supported by £5m in funding from the Greater Manchester Combined Authority brownfield housing fund pledged to help regenerate the long-dormant riverside site.
Bolton Council originally approved outline plans for Church Wharf, in the heart of the town centre bordering Bolton Parish Church and St Peter's Way, in 2019.
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The site has been completely cleared but a deal with developer Muse between 2018 and 2023 failed to result in any building work.
The development is set to be built in four phases with 12 new blocks built.
Rob Watson, director of Watson, said: "We are delighted to have submitted plans for such a transformative project. Church Wharf is not just about new buildings, it's about revitalising Bolton town centre with much-needed housing, dynamic commercial and leisure spaces, together with a hotel that will bolster the local economy, enhancing the lives of the community.
"We are committed to making a long-lasting, positive impact on the communities we serve."
If given the green light, construction will commence in the summer, with a planned completion date of 2029. Watson stated its intention for Church Wharf was to 'revitalise this key gateway location' to become 'a vibrant neighbourhood, home to over 1,000 residents'.
Upon completion, it is anticipated to generate £7m in annual household spending on local goods and services. Additionally, an independent economic impact assessment has projected that the development will create 1,500 jobs and contribute £64m in gross value to the Bolton economy.
Watson is also currently developing Creams Mill in nearby Little Lever into housing.