Developers behind the Brent Cross Cricklewood regeneration project are looking for investors to help turn the area into a “thriving town centre”.
Brent Cross Shopping Centre owners Hammerson and Standard Life and Barnet Borough Council are looking for people to help deliver the £4billion scheme.
The new investors would lead the delivery of the Cricklewood project - which will include building new homes, commercial space and parkland.
The selection process will start in summer 2014, and work will commence in 2015.
It is expected the homes will be completed within the next 20 years, with people moving in by 2020.
Planning officers approved planning permission in January, despite protestors saying the new development would be a “living hell”.
But after the meeting, Mike McGuinness, development director at Hammerson, said: “It is a major step towards the delivery of a thriving new town centre and a complete transformation of the area.”
Barnet Council leader Councillor Richard Cornelius said: “With the London property market showing strong signs of recovery, this is the perfect time for the Council to attract significant investment into Barnet.
“We are very excited about seeing the scheme delivered over the next few years, providing the new homes, jobs and improved community facilities residents wish to see.
"This initial stage will provide valuable feedback as we continue to finalise our requirements and ensure we are attracting the strongest field of partners possible.”