The council and regional development agency Yorkshire Forward are planning a regeneration scheme that could affect up to 14 hectares of brownfield land.
Roads infrastructure, up to 400 homes and other buildings are proposed for the project.
Earmarked to start mid next year, it is expected to take about five years.
The council expects to invite at least three bidders to enter a "competitive dialogue" process before a strategic partner is selected.
The deadline for requests to take part is Friday, April 25.