The multi-million pound 'Station Quarter' plans will re-shape the area between Telford Town Centre and Telford Central Railway Station, with the creation of a 'digital skills and enterprise hub', new homes, and leisure facilities.
It is the latest step in the expansion of the town centre, which has proved a major success with the creation of Southwater and continuing expansion of the town's shopping centres.
Telford & Wrekin Council Leader, Shaun Davies, has described the project as "transformational", with the 'digital skills and enterprise hub' run by Telford College and the University of Wolverhampton, another major boost to the area.
In what is a significant step forward for the development the council has appointed Willmott Dixon to build the first phase.
It is anticipated a planning application will be submitted later this year.
Last month the government confirmed £22.3m in 'Towns Funding' for the project.
Councillor Davies said: “The Station Quarter will be a transformational development for Telford, and we are delighted that we will be working with one of the country’s leading construction companies as our partner in the project.
“The £22.3million secured from the Towns Fund for our bid will prove a game-changer for Telford and the wider borough, helping us boost the skills of the area’s workforce and providing more new homes for local people.
“Willmott Dixon will now be working with the council and partners to support design development in preparation for the submission of a planning application later this year as well as supporting the council to prepare business cases, which is the next stage in securing the Town Investment Funding.”
The town's MP, Lucy Allan has said that the development of the skills hub would help play a major part in Telford's post-pandemic growth.
She said: "Skills training and technology will be the engines of new growth and jobs and will confirm Telford’s position as an economic hub fuelling growth across the West Midlands."