Wetherby-based firm Caddick Developments have revealed plans to develop a brand new neighbourhood which will be known as SOYO, filled with apartments, bars, restaurants, a hotel and public spaces.
The Quarry Hill flats were demolished in the 1970s and this will be the first major scheme on the site since.
There will be six planned phases and work is set to begin by Spring 2018.
There will be two stylishly designed apartment blocks, with 515 hotel style apartments for rent, which have taken inspiration from New York and San Francisco living. Work will also begin on a boutique spa hotel and public space, which will offer a link from John Lewis and Victoria Gate.
Myles Hartley, the managing director at Caddick Developments said:
“It really is game-changing, the next chapter for the city and we are right at the heart of it. Quarry Hill has a rich history but we feel we want to bring that right up-to-date.
“It is a unique part of the city and nowhere has got that range of cultural offering. We did not want a scheme that was just ours in isolation, we wanted to reflect and involve those and work together to get more people down there, celebrate and shout loud and collective.”
The initial phase is expected to take three years to complete, with further work to follow.