Business leaders have applauded a decision by York Council to invest £10m in unlocking the stalled York Central development.
The money will go towards a new bridge providing access to the site which it is hoped could eventually support thousands of jobs.
The 35 hectare site in the centre of York has long been regarded as one of the prime areas for development in Yorkshire.
Susie Cawood, head of the York and North Yorkshire Chamber of Commerce, said: “The Chamber is delighted that the City of York Council is demonstrating its commitment to economic growth and job creation by investing in infrastructure to allow access to what is one of the largest city centre brownfield sites in Europe.
“Further employment and residential sites are needed to enable York to continue to economically outperform other parts of the country.”
York Council leader James Alexander said: “The importance of this investment decision cannot be underestimated. York Central is arguably York’s most significant brownfield site and one which has been left derelict for a generation. It’s expected to create 8,000 jobs and deliver over 1,000 homes for York residents whilst putting £600m a year into our local economy.
“I welcome the support from the York Economic Partnership and the Chamber of Commerce today, in representing businesses across Leeds, York and North Yorkshire, and I’m encouraged that they too realise the benefits this development will bring to the city for future generations.”