Slough is set to benefit from investment of more than half-a-billion-pounds after the council struck a deal to buy key piece of land in the centre of the town.
Formerly the site of Thames Valley University, the town centre site will now become the largest single local authority regeneration project seen outside of London, according to Slough Council.
The project is expected to bring more than 1,400 homes, 45,000 square feet of retail and leisure space, and 250,000 square feet of office space.
Councillor Sohail Munawar, leader of the council, said: “Investment breeds investment and Slough is at the forefront of building for the future; locally, regionally and nationally.
“By innovative and shrewd financial investment we are not only providing regeneration but cash for the future, protecting frontline services for all our residents.”
Negotiations with a development partner are expected to be complete by July.
Councillor Munawar added: “With the developments by the bus station, the amazing Curve opening last year, the old library being demolished for new hotels and now this incredible regeneration plan coming to fruition, The Heart of Slough changes, envisioned more than 15 years ago will be complete.”