A long-awaited masterplan to redevelop the former Staveley Works site has been submitted to Chesterfield Borough Council.
If the ambitious proposals are passed, a 55-hectare area in the western part of the brownfield site off Works Road, Staveley, would be transformed to include:
► Up to 590 homes
► Two convenience stores
► A restaurant/pub
► Business premises
► A park with a lagoon water feature
► Ecological habitats along the River Rother and Chesterfield Canal
Joint developers and landowners, Saint-Gobain UK and Strawsons Property, have been working on the masterplan for the past six years.
It is expected the Chatsworth Estate, which owns the other part of the site, will soon submit a planning application in a bid to regenerate that section of land as well.
A spokesman for Saint-Gobain UK and Strawsons Property said: "We are delighted to submit our plans which, if approved, will begin the transformation of one of the largest regeneration sites in Derbyshire.
"We have worked closely with Chesterfield Borough Council and the Chatsworth Estate on a joint highways strategy and shared design approach to ensure our plans for the former Staveley Works site complement the wider vision for the area and any future planning submissions made by the Chatsworth Estate."
The once-bustling Staveley Works site now lies derelict and has been branded an 'eyesore' by residents.
The location has a 200-year history of industrial development, including mining and iron and steel making.
During World War One, Staveley Coal and Iron Company Ltd developed its chemical operations and a factory was on the site until 2012 when American owners Covidien announced the closure of the plant.
Other major developments in the borough include Chesterfield Waterside, the Northern Gateway, Peak Resort and Walton Works.