Construction work is now scheduled to start next spring on the 37,000m2 first phase, generating 2,700 construction jobs, it has been calculated. Phase one of the Victoria Gate development is set to open in autumn 2016.
Vinci, Laing O'Rourke and Sir Robert McAlpine have been shortlisted for the contract.
The development, previously known as Eastgate Quarters, is anchored by a 24,000m2 flagship John Lewis store, which will link to the existing Victoria Quarter.
Hammerson achieved outline-planning consent in July 2011 and submitted detailed designs to the council in July 2013.
Leeds City Council executive member for the economy and development Richard Lewis said: “The scheme will help regenerate that area of the city centre and will complement the well-established Victoria Quarter and the brand new Trinity Leeds to further enhance the exceptional retail offer in the city.”
The £350m Trinity Leeds shopping centre opened earlier this year.