Plans for the £100m Falkirk Gateway include new homes, offices, food outlets and leisure facilities.
Joint venture partners Hargreaves Land and Fintry Estates have reached agreement with Falkirk Council, paving the way for a planning application in late summer 2023 for the 27-acre scheme.
Falkirk Gateway will be built next to the new Forth Valley College and Falkirk Stadium to the east of the town.
Plans show a mix of 100 new homes, a pub/restaurant, a 120-bedroom hotel and more than 120,000 sq ft of commercial floorspace for retail and leisure facilities.
The council is also carrying out a programme of road improvements to support Falkirk Gateway.
If the developers’ plans get approval from Falkirk Council’s planning committee later this year, onsite work is expected to start in the second half of 2024 with completion of the scheme anticipated in 2026.
Falkirk Council leader Cecil Meiklejohn said: “This is a significant step forward for the economic regeneration of the Falkirk area and brings massive investment as well as hundreds of jobs. It will transform an area that has been empty for many years and we look forward to seeing the delivery of the project by 2026.”
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