Ventureast, the £450 million mixed-use development at Digbeth, is to be renamed Eastside Locks in order to reflect its canal-side location.
Developers Goodman made the announcement at Mipim yesterday, where proposals for the 13-acre Eastside site, bounded by the new city park and the Digbeth Canal, were formally launched.
The scheme is based chiefly on 675,000 sq ft of Grade A high-quality office space, which is being billed as one of the largest projects of its kind anywhere in the UK within walking distance of a city centre.
The rest of Eastside Locks is likely to consist of 325,000 sq ft of apartments, shops, leisure space and a hotel. The entire development will create 5,000
jobs.Yesterday's announcement follows a public consultation process in December when Goodman invited public feedback to proposed plans for the scheme, which is a joint venture between Birmingham City Council and Advantage West Midlands.
AWM chief executive Mick Laverty said the launch of Eastside Locks proved that Eastside had been transformed in six years from a "no go area for investors and developers" to a prime site for regeneration.
Mr Laverty added: "The development of Birmingham Eastside and in particular the Eastside Locks element is undoubtedly one of the most exciting regeneration schemes in Europe.
"Exceptional progress has been made and eyes are now turning to what will be an exciting chapter of the city and the region's development."
Jim Johnston, Goodman's managing director for UK business parks, said: "The past 12 months have involved a huge amount of work with key stakeholders to get to this stage where we can show what Eastside Locks will eventually look like.
"Our next priorities lie with ensuring the scheme evolves into an exceptional sustainable scheme for businesses, the local community and Eastside, further strengthening Birmingham as a leading global city."
City council leader Mike Whitby said: "The development will play a vital role in making Birmingham's economy stronger and more sustainable, offering opportunities for all of our citizens.
"The potential and possibilities presented by Eastside Locks complement our vision for Birmingham's Big City Plan, creating a city where people want to live, work, visit and enjoy a high quality of life within a thriving, diverse community.
"Within Eastside and the wider city centre, the development will boost regeneration and encourage innovation, integration and connectivity."
Goodman will market Eastside Locks as a uniquely sustainable development, stressing its location alongside Aston University, Birmingham City University, Matthew Boulton College and only a ten-minute walk from New Street Station.
It will offer low-rise and low density accommodation, with the new offices backing on to the city park.
Part of the site is in the Warwick Bar conservation area, which the developers say will be an important factor underlining the attractiveness of the apartments.
Work on the first phase is likely to begin early in 2009, but the whole project will take 10 years to complete.