The 'St Michael's' project, to include a 21- and 31-storey tower block will involve the demolition of several existing older buildings in the city centre around Jackson's Row.
The former Manchester United captain said: "Our vision is to deliver the biggest statement in architecture and development that Manchester has seen in modern times.
"The critical element of this scheme was the public space. We have enjoyed immensely, as people who live in this city, the development of Spinningfields and other such quarters, and Manchester needs more of these types of destination.
"It was one of the primary objectives of all the design process, we have got to leave as much of this site for public use and activity and create a place for people of Manchester to come and enjoy."
Neville, 41, said the project, which includes a new synagogue and three new public spaces, would bring back life to a "key, underused area of the city" and create over 1,300 jobs.
The scheme is being planned by the St Michael's Partnership, an international consortium including Singapore's Rowsley Ltd, Beijing Construction and Engineering Group International and Jackson's Row Developments Limited, formed by Neville, Giggs, and businessman Brendan Flood, being advised by the Manchester office of real estate advisors Colliers International.
The project hit the news last winter when Neville allowed around 30 homeless men to squat in one of the old buildings on the site, the Grade II listed former stock exchange building.
For more stories of local business success, sign up for our BQ Breakfast.
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement