Cushman & Wakefield (C&W) has been brought in to help Preston transform its residential offering.
The commercial property and real estate consultancy has been appointed by Preston City Council and its partners to prepare a city centre living strategy to "support and accelerate the delivery of a thriving residential core in Preston city centre".
The strategy is intended to assist with the delivery of the Preston Housing Zone (PHZ), which already has more than 800 units allocated in the area and forms part of the growth ambitions of the Preston, South Ribble and Lancashire City Deal.
The council said that the establishment of the PHZ and the strategy signals its intent to work with developers and investors to deliver a step change in the residential offer within the city.
The strategy will promote the city centre, and specifically the identified housing zone sites, as a key location for new residential development. It will set a framework for development that seek to meet broader place-making aspirations and address key issues including identifying opportunities to promote and develop the private-rented-sector/build-to-rent markets, student accommodation and homes for sale.
Caroline Baker, director of development consulting at Cushman & Wakefield, said: "We are really excited to be using the expertise we have gained over the last ten years advising public sector partners in Manchester city, including Manchester Life, Manchester Place and Manchester City Council, to support Preston to transform its residential offer.
"Preston has a number of key attributes to support city living and we look forward to articulating this to private-sector investors and developers."
Peter Rankin, leader of Preston City Council, said: "This is a key appointment and critical to our plans for the future development of Preston city centre.
"It's about making it as easy as possible for investors and developers to invest. About marketing the city and making it clear that Preston is a fantastic location to live and work. That now's the time to invest in Preston.
"The opportunity is there, the infrastructure is there and the will to make it happen is there from all partners and the local business community too. We are delighted to be working with Cushman & Wakefield and look forward to making progress."