The £13m project makes up a part of the wider Stretford Masterplan and will see Caddick Construction deliver improved transport links, pedestrianised streets and a new town centre.
The plans also include investment to create a new King Street Square at the site of the former Mall t0 provide market stalls and spaces to host events, along with transforming the existing multi-storey car park to make it more secure.
The work is due to commence later this year and is set for completion in summer 2024.
Following approval of the King Street proposals, plans for up to 800 new homes, new green public open space, and a new canal side neighborhood are due to be submitted later this year.
Cllr Andrew Western, Leader of Trafford Council, said: “The extensive development of King Street and the wider Stretford area will significantly increase connectivity by introducing green and open spaces where people can come together and interact.
“With King Street playing a large role in the plans, the wider masterplan will enhance the quality of life for Stretford residents while boosting the local economy with the opening of a number of new businesses.”