The £250 million programme includes plans to convert the shopping centre and surrounding area into a new retail, leisure, office and residential destination while opening the streetscape to provide pedestrian links to Bradshawgate.
Real estate specialist Midia and Bolton Regeneration Limited (BRL) have partnered with BCEGI to deliver the project.
This programme also forms part of the £1.2bn Bolton town centre regeneration plan.
Bolton Council Chief Executive Tony Oakman said: "This is a huge boost for Bolton's town centre regeneration strategy, and I'm delighted we are making clear progress with this centrepiece development.
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"As a council, we have committed £100m to creating a town centre we can all be proud of and it is clear this has given major international real estate investors and developers the confidence to invest in Bolton's future.
"As a result of the commitments already by private sector investors, we are confident of exceeding the original £1bn investment target within our plan."
Director of Place Gerry Brough added: "The agreement between Midia and BCEGI, marks a key milestone in the redevelopment of Crompton Place and the broader Bolton Town Centre Strategy.
"Securing the support of companies of international standing is a major achievement for Bolton and highlights the opportunities available to other developers and investors.
"In a competitive marketplace for attracting investment, the council's decision to purchase Crompton Place last year has made this agreement possible.
"There is a clear message that Bolton is open for business and I'm sure even more investors will be taking note of the opportunities our town has to offer."
(CM/JG)
