Backed by Multiplex, Hammerson and Standard Life Investments, the 3.4km2 mixed-use development could create a huge windfall of new work for architects over the next 20 years.
The scheme, which was officially unveiled at the MIPIM international property fair in the south of France earlier today (13 March), has been masterplanned by Allies and Morrison and BDP - the latter focusing on the retail areas.
However, it has been revealed that most of the individual plots within the development will be opened up for other practices.
Part of the project will include the overhaul of the existing Brent Cross Shopping Centre as well as the creation of 7,500 new homes, a new mainline railway station, three schools, new leisure centres and parks.
Due to go in for outline planning in the summer, the scheme has been in the pipeline for nearly seven years. During that time the proposals have been out for extensive consultation, which have already secured the backing of London Mayor Ken Livingstone.
As a result, Brent Cross Cricklewood Partners' development director Jonathan Joseph believes the development will not become entrenched in a lengthy public enquiry.
He said: 'This must be the most heavily consulted scheme around. I can't imagine why anyone would want to call it in.
'Everything that should have been done, has been done.'
It is hoped the project will start on site in 2009.