The team, which has Tibbalds TM2 as lead architect, beat off a shortlist that included a joint venture between Amec and Crosby Homes and a team led by Miller.
The scheme is the first phase of the Attwood Green project, which aims to transform run-down housing estates in Birmingham.
Attwood Green joins a lengthening list of large scale regeneration schemes in the ciy. The £400m Bull Ring shopping scheme is under construction, as is the £400m 50-storey Arena Central block. The £100m Mailbox development has just been completed.
Crest's project will include the demolition of tower blocks and the construction of 1100 houses and flats in five estates between the city centre and Edgbaston. The developer's team will work with housing association Optima and Birmingham city council on the eight-year scheme.
Optima chief executive Simon Kimberley said the scheme would lead to a renaissance for the Attwood Green area and would fit in with the other regeneration projects.
Crest development executive Russell Legg said the residential units would be complemented by a 130-bedroom hotel, offices, shops and leisure facilities.
He said the centrepiece of the project would be the refurbishment of the 20-storey Haddon Tower council block into luxury apartments. "We are going to move the social housing element into the new units. We felt if you put 100 social housing apartments in a block it would ghettoise them." he said.
"The refurbished block will be the focal point of the development. It will create a fantastic glass-clad entry point to that part of the city."
Crest's team also includes QS Davis Langdon & Everest and civil engineer Bullens. Legg said he expected more architects would be required to work with Tibbalds TM2 on particular elements of the scheme.
An outline masterplan for the site has already been produced by PRP Architects for Birmingham city council and Optima. Crest's plan will include two parks and cycle paths.
A planning application is due to be submitted next month and work is planned to start in November.