Building work on the controversial King Alfred project is predicted to start next February.
A development agreement between Karis ING and Brighton and Hove City Council has been signed and 81 planning conditions must now be met before November.
Once the final designs have also been agreed, the council is expected to hand over the land next February.
The news has emerged as the Conservative party, which now dominates the council, has defended its handling of the scheme it has bitterly opposed.
The £290 million development has been designed by world-renowned architect Frank Gehry.
It will feature 751 homes in 11 buildings, including two towers of up to 98 metres in height. There will be a £49 million sports centre, small shops, a police office, a GPs' surgery, cafes, restaurants and public spaces.
Southern Housing Group will manage the 270 affordable homes.
A spokeswoman for Karis said the scheme had not been altered since it was agreed by Brighton and Hove City Council but that detailed design work was now being carried out.
She said: "We are aiming to commence work on site in February 2009.
However, given the scale and complexity of the project, there is still a great deal of work to be carried out.
"This includes taking the detailed design to the next level and the appointment of the main contractor.
"The project remains a joint venture partnership between Karis and ING Real Estate. There is a great deal of interest in the scheme and we aim to release apartments for sale." The Conservative administration, which opposed the scheme, has faced flack for not dumping the project after the party gained power last May.
Following a rejected Freedom of Information request, the Tories have also been criticised for not releasing an angry letter penned by planning staff.
Council leader Brian Oxley said his party has been consistently against the development and had played no part in deciding whether to release the correspondence.
The Regency Society has been fighting for the letter to be put into the public domain. But the council claims the note could affect public confidence in the planning process.
Alan McCarthy, the council's chief executive, said: "I can confirm that the Conservative members of the council consistently opposed the King Alfred scheme during its development and voted against the planning application when it was determined in March 2007.
"The issues of the release of emails have been referred to the national Information Commissioner."
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