The developer proposes to build around 320 homes on the Canary Wharf site, located alongside the River Croal and between St Peters Way (A666), Bank Street, Manor Street and Folds Road.
The new homes will include townhouses and apartments, ranging from one to four bedrooms and aimed at young people, first-time buyers and families.
Further plans for the site include a new hotel, commercial offices and leisure and retail opportunities, such as a café, convenience store or bar/restaurant.
The development will help improve the area around the river, with plans also in place to construct a new footbridge linking the site to Bank Street.
Around 130 jobs are expected to be created during construction.
David Burkinshaw, Muse Developments, said: "Cities and towns across the North are being revitalised as more people choose to live in urban centres. This shift in the way people want to live is enabling new neighbourhoods to be created with a daytime and evening economy, where restaurants, bars, cafes and shops all thrive.
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"The Church Wharf site is in an ideal location for new homes, within minutes walk of the centre of town. The setting alongside the River Croal and with impressive views of the two churches gives Muse the opportunity, working in partnership with Bolton Council, to create something really special that people can be proud of.
"The area has a rich industrial heritage and the development will be designed to balance the desire for modern, high quality architecture with its historic setting. We're looking at retaining some of the existing buildings and other features.
Bolton Council is also working alongside Muse Developments to regenerate the site.
Councillor Ebrahim Adia, Deputy Leader of Bolton Council, added: "Church Wharf is a key gateway into Bolton town centre and one of five sites in the Council's billion-pound town centre masterplan. Creating a new neighbourhood at Church Wharf will help regenerate the town centre and breathe new life into the area. We're supporting this vision with £100m direct investment to fund the key infrastructure needed to deliver important town centre sites including Church Wharf."
A consultation on the plans for the new neighbourhood has also been launched, with two drop-in events scheduled. Further details can be found on the council's website.
Subject to feedback, Muse Develops will submit a planning application in Spring 2019 with a decision from Bolton Council expected in the Summer.
(CM/MH)
