Cabinet members have approved a report to appoint a joint strategic development and investment partner.
The report recommended Willmott Dixon is appointed by Torfaen and Blaenau Gwent Council to help bring forward regeneration projects, new homes, infrastructure improvements and investment opportunities.
Blaenau Gwent Council's cabinet members will consider the report on October 5.
Cabinet members were told the partnership will offer both councils access to specialist development expertise, investment opportunities and additional capacity to progress complex regeneration schemes.
The report also said it will help unlock strategic sites and support the delivery of the Joint Local Development Plan, while ensuring local authorities retain control over key decisions relating to land, funding and project approvals.
Cllr Joanne Gauden, Executive Member for Economy, Skills and Regeneration, said: "Both councils are driven to address inequalities in communities, regeneration and projects that align to the Marmot principles and deliver the well-being objectives in our County Plan are a central part of that solution to drive economic growth.
"A strategic partnership will act as a key delivery mechanism to translate ambition into action, accelerating regeneration, maximising complex development and making full use of external lending and unblocking opportunities to provide quality, housing and high end jobs."
In July 2025, both councils agreed to jointly procure a long-term Strategic Development and Investment Partner.
Willmott Dixon will be appointed through the Pagabo Developer Led Framework, subject to final procurement and legal assurance.
Initial pre-development work will be delivered through a 12-month agreement, with future projects subject to separate approvals and governance processes.
Torfaen and Blaenau Gwent Council were the first Marmot Councils in Wales.