The proposal is to decide whether to present land at no cost to South Yorkshire Housing Association so that they can supply housing at affordable rent.
Proposals will be made to build new apartments and restore a local shop in the High Green area.
The announcement follows the completion of the first part of the scheme which saw the development of 15 rented apartments and seven family homes also offering affordable rent in the same area.
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Cllr Harry Harpham, Cabinet Member for Homes and Neighbourhoods said: "By supporting this proposal we will be helping people meet the expense of housing during such difficult financial times.
"We want the best possible outcome for the area and to achieve our vision for the local community. If we can provide the free land needed to build the local amenities store and new apartments we hope that this will help to restore the area to the thriving community it should be."
The new apartments have replaced 10 storey tower block, The Fosters, which was seen across the city sat on the hills of High Green.
