The Trinity Islands scheme consists of 1,400 new homes located across five large tower blocks in the city's St John district.
Designed by architect Child Graddon Lewis (CGL), the 'vertical village' will also include farmer's markets, retail units and educational facilities forming the core of a city-centre village.
If approved, developer Allied London is proposing to start construction work later this year.
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Chief Executive Michael Ingall said: "Trinity Islands is without doubt one of our most ambitious developments so far. This area, at the dissection of two cities, is an incredibly important one and is developing rapidly.
"Our success in transforming Leeds Docks, the Brunswick Centre Bloomsbury and creating the Chafford Hundred Village in Thurrock (via our subsidiary Pelham Homes) represents a relevant track record, one that we will require to build a real community on the edge of two cities."
James Sidlow, Project Director, said: "Trinity Islands will appeal to a wide variety of people with its excellent onsite amenity and community-lead retail offering, as well as its sky gardens and lounges that allow residents to relax and unwind. One of the tallest residential schemes in Western Europe, residents will enjoy some of Manchester's most scenic views."
(LM)
