The plans will transform the redundant riverside area

The proposals, for the Middlehaven area of Middlesbrough, are the latest in a long-running attempt to change the face of the former docks.

The project includes about 750 new homes, a luxury hotel and associated shops and leisure facilities.

Tees Valley Regeneration said a deal had been signed with UK developer Quintain Estates.

It is hoped work will begin on the site in 2007.

'Visionary feel'

Tees Valley Regeneration's chief executive, Joe Docherty, said the project would include a collection of "iconic structures".

He said: "Quintain has signed up to deliver this vital stage of redevelopment.

"It is one of the biggest names in regeneration in the UK and the team will bring a fantastic range of qualities from stunning architecture and its practical application to a visionary feel for the future."

Quintain Estates is responsible for redeveloping land close to the new Wembley Stadium.

A Quintain Estates spokesman said: "We are delighted to have signed the development agreement for Middlehaven.

"Our aim is for this new place to become a focal point for the town and for the Tees Valley region."