Two county councils have started the tender process for an 8,000-home scheme that could be worth as much as £1.6bn.
Basingstoke and Deane Council and Hampshire County Council are looking to appoint a joint venture partner to develop the 843-ha Manydown mixed-use project west of Basingstoke that could eventually provide 8,000 new homes.
The two councils are aiming to begin the first phase of the scheme, which will look to deliver 3,400 homes and associated infrastructure, alongside commercial and retail space.
The tendering process is expected to begin in July 2016, with a development partner appointed in June 2017.
The councils will look to form a JV with the successful bidder, who will have “an impressive track record” in delivering large-scale residential projects.
Outline planning permission for the project will be submitted in December 2016.
Manydown project director Richard Bayley said that the scheme is “one of the best residential development opportunities in England”, and added that the development would need a partner “who has both the financial and resource capacity” to commit to the long-term project.
It is also anticipated that the joint venture partner could take up an investment role in some of the assets built as part of the scheme.
The councils will host a partner engagement event on Monday 13 June.