The partnership will involve the creation of 2,000 new homes, including a range of different types and sizes.
The homes will be built on the site of the civil centre as well as at the sites of several former leisure centres. The scheme will also include the development of a new town centre park.
The project is the latest phase of wider improvements to Oldham including the new Spindles shopping centre and offices; a new home for Tommyfield market, a new theatre, new space for businesses, and and a restored Old Library with cultural, civic and community spaces.
The new partnership could last as long as 25 years. Muse were chosen after an in-depth procurement process. They have been responsible for developing similar projects such as the Stockport Exchange, Salford Central and Lewisham Gateway schemes.
Commenting on the new partnership, Councillor Arooj Shah, Leader of Oldham Council, said: "This is absolutely fantastic news. I'm delighted that, today, we can announce that together, we and Muse will be creating a new town centre for not just the people who live here now, but for generations to come.
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"These new homes will create new communities right in the heart of Oldham; which is a brilliant opportunity not just for the Oldhamers who will get the chance to live there, but also for people across the borough who can enjoy greener, more attractive, and more enjoyable places to shop, eat, drink and spend their leisure time.
"I know today's announcement will also be welcomed by our fantastic local businesses, who will soon be seeing more and more people spending time in our town centre throughout the day and into the evenings, as new communities move in, settle, and raise their families.
"I'm so pleased to be leading on these exciting, ambitious, and truly game-changing plans - and I'm also truly excited that we’ve secured a partner from Oldham, who knows Oldham so well, and is just as passionate as me to make our borough a better place for all of us who call Oldham home."
Reflecting on their involvement, Phil Mayall, Managing Director – North West at Muse, said: "We're proud to have been selected by the council to deliver its ambitious vision for regeneration in the town and we’re excited to get started.
"As a business, we're all about placemaking. We create kinder places in our towns and cities that focus on quality, community and sustainability. It's regeneration with people at its heart; that will celebrate the proud town of Oldham, its rich heritage, along with its aspirations for the future.
"We're at the start of our journey with the council and we're very much looking forward to getting out in the community as soon as we're able, as we build a brighter future for Oldham, together."
