The agreement between the Council, Fairfield Housing Co-operative and Caledonia Housing Association (CHA) would see a further 226 units developed during phases 5-7 of the project.
This would include 82 affordable housing units for rent and 64 low cost home ownership units. 80 units of private housing will also be built and sold.
The Muirton area of Perth was allocated for regeneration in 2004, with the aim of transforming housing and facilities for residents. Phases 1-3 of the project were completed between 2007 and 2011.
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The proposed partnership agreement for the continued delivery of the final phases will be considered by the Housing and Health Committee on Wednesday 6 February.
A partnership board will be established to oversee the delivery and ensure good governance, with the remaining Council-owned land in Muirton Park disposed of to Caledonia Housing Association (CHA).
CHA will then work with a private developer to provide the housing-for-sale element of the regeneration, along with some of the low cost homes.
They will also construct the affordable housing and advise on the commercial element of the development.
Housing and Health Convener, Councillor Dave Doogan, said: "As the UK recession stubbornly refuses to improve and UK growth remains non-existent, Perth & Kinross Council needed to develop a creative framework with which to breathe life into this development opportunity and I believe this is what we can now see.
"This proposed partnership agreement is sensible way forward to ensure the delivery of the final phases of the regeneration, which would see the project completed by July 2018."
(IT)
