The company will develop the Mayfield Quarter scheme, which will see a 24-acre derelict site transformed into a mixed-use community close to Piccadilly station.
Features include building over 1,000 new homes, a new hotel, and developing 807,000 sq ft of offices including leisure and retail space. The scheme has the potential to create 7,500 jobs.
U+I was appointed to the scheme by the Mayfield Partnership, a public sector consortium comprising Manchester City Council, Transport for Greater Manchester and LCR.
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The Group plans to submit an outline planning application in 2017, with a detailed planning application for the first phase of the development later that year.
Matthew Weiner, Chief Executive of U+I, said: "We are very proud to be selected as the preferred partner on this unique project, underlining our strengths in mixed-use regeneration and public private partnership projects."
Sir Richard Leese, Leader of Manchester City Council, added: "We are delighted to have appointed U+I as our development partner for the Mayfield Quarter.
"The regeneration of this key gateway site, along with the proposed Network Rail Northern hub scheme and the HS2 station will ensure a lasting legacy for Manchester and over time contribute towards fulfilling the Northern Powerhouse growth agenda."
(LM/JP)
