The Cartergate development on the site of the former BLESMA House off Frederick Ward Way will be a mix of office space, urban spaces and mixed use retail and residential buildings.
Plans for the development were showcased during a two-day public event at nearby St James' Church in January, although there has been an ongoing consultation exercise about the future development of Grimsby's open spaces since 2005.
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George Krawiec, Chief Executive of North East Lincolnshire Council, said: "We were very impressed by the preferred developer, who we cannot name at this stage, and their visions for the site.
"The developers have a proven track record in providing quality buildings locally and nationally and match our ambitions, and the public's, for this pivotal gateway to the town."
The Cartergate Project is part of the wider Renaissance Towns and Cities Programme, which was launched by Yorkshire Forward in 2001.
(CD/JM)
