The Rushbond Group is proposing to redevelop the former Marsh Lane Goods Yard, which dates back to 1834.
Redevelopment at the site, which is to be named Leeds City Village, plans to deliver more than 1,000 new homes as well as a mix of shops, leisure and amenity space.
A series of new buildings are planned at the site between Marsh Lane and Shannon Street.
The Rushbond Group has teamed up with residential development specialist Gold and Amber to regenerate the Marsh Lane Goods Yard site.
The initiative is part of a masterplan for to the east of Leeds city centre.
Mark Finch, real estate director of Rushbond, said: “: ”This is a massively exciting initiative to help meet the growing needs of an ambitious and dynamic city for quality new homes through a careful and considered masterplan over the full extent of the Goods Yard site.”
Sophie Brown of Gold and Amber, said: “We have opened up early discussions with the city council and plan to make further announcements on the plans early this year, following discussions with local stakeholders and community groups.
Chris Austin, Managing Director of the Leeds-based architectural practice, Brewster Bye, who have been commissioned to design the masterplan, said: “This is a tremendous and exciting opportunity to expand the City Centre eastwards.
A planning application is expected to be submitted to Leeds City Council this spring.