In partnership with the Canal & River Trust, Birmingham City Council has revealed the Icknield Port Loop development.
The scheme on 22 hectares (55 acres), to the west of the city centre, already has outline planning permission for 1,150 homes, 6,690 sqm of new retail and commercial floor space, and a hotel and swimming pool.
Sir Albert Bore, Leader of Birmingham City Council, said: "I am pleased to announce the next stage in the delivery of Icknield Port Loop, one of the key development opportunities in Birmingham.
"This is a substantial opportunity for a committed private sector partner to get involved in the early stages of a very exciting residential-led regeneration scheme that will provide a significant number of new homes and jobs for the people of Birmingham and act as a catalyst for further major regeneration proposals in the pipeline."
The Icknield Port Loop site is at the heart of the wider Greater Icknield regeneration area, which covers 60 hectares (150 acres). The wider area will see over 3,000 new homes and a range of employment and community-based developments put in place over the coming years.
Birmingham City Council and the Canal & River Trust will bring the site forward for development later this year, seeking a delivery partner to take a 50% share.
Waheed Nazir, Director of Planning and Regeneration at Birmingham City Council, said: "As the largest Brownfield residential-led development opportunity in the city, Icknield Port Loop is a key part of Birmingham's ambitious growth agenda.
"Located on the edge of the city centre and benefiting from a substantial waterside setting, including the 58 acre Edgbaston Reservoir, the site has huge potential to create a new family-focused, sustainable neighbourhood incorporating high quality urban design and place making."