An ambitious multi-million-pound redevelopment of a rundown area of Teesside has moved a step closer.

Tees Valley Regeneration (TVR) has announced that Amec, in partnership with Urban Splash, is the chosen developer for Stockton's 56-acre North Shore site.

The £300m project, which will take up to 15 years to complete, is expected to bring 2,500 jobs to the area and includes new homes, leisure facilities and office space.

It is set to transform the area with visionary designs from the people behind the impressive rejuvenation of inner city landscapes across the country.

Amec has worked on the transformation of the Newcastle Quayside, and Urban Splash in Manchester and the Liverpool waterfront. Joe Docherty, chief executive of TVR, said: "We want to create a new image for the Tees Valley, particularly Stockton. We have stated we want to raise the bar and with these plans that is exactly what we are doing.

He added: "It is a signal to everyone that we mean business with two of the best property development names in the country signing up to be part of Stockton's future.

"This is going to transform Stockton, not just in terms of the waterfront but in terms of opportunity across the Tees Valley." The project, which attracted interest from over 80 developers, will create 600 new homes, office space and it is hoped there will also be a new facility for the University of Durham on the riverside site.

John Early, chairman Amec Developments, said: "I was sold on this scheme the first time I saw the site. I just knew we had to win this particular scheme.

"This project has the potential to bring about mixed use urban regeneration of the highest quality. We believe our proposals will make a real difference to the people of Stockton."

Urban Splash has created stunning, award-winnings developments across the country and in particular Liverpool and Manchester waterfronts.

Chairman Tom Bloxham said the project will change people's perception of the town through its visionary buildings and design.

"This will be a fantastic scheme, - our first in the North-East - so we hope and expect it to be the best place to live and work in Stockton."