Landowners are preparing planning applications for the first phase of redevelopment at the former Staveley Works site.
Chesterfield Borough Council is in talks with Chatsworth Settlement, St Gobain Pipelines and Strawsons/Omnivale to draw up the applications.
A borough council spokesman said: “These will be centred around Works Road and the land to the west, which will be developed for housing and a new local centre.
“Extensive investigations are underway on issues such as ground conditions, traffic impact and flood risk, which will need to form part of any planning applications submitted later this year and subject to public consultation at the time.”
The spokesman added that an announcement from HS2 about the line of the route up to Leeds – including a depot on the historic Staveley Works site – is expected during the autumn.
HS2 is the Government’s £50billion proposal for a high-speed rail network linking large parts of the UK.
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 the First World War, 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.