Inland Homes has received planning consent to build up to 700 homes at Gardiners Park Village, on the north side of Basildon, having signed a Section 106 agreement.
The consent follows the resolution to grant planning permission received for the site back in May, dependant on the Section 106 agreement.
The proposed development, in conjunction with the government’s housing accelerator Homes England, includes 25,000 square metres of commercial space, a new school and community facilities, as well as the housing.
The estimated gross development value of the 54-acre site is more than £200m.
The deal is that 31% of the housing will be designated ‘affordable’.
Inland Homes signed a development agreement with Homes England, which has a majority interest in the site, in April 2020 and will acquire the land in phases over a five-year period.
Construction of the first phase with detailed planning consent, comprising 74 homes, is expected to start in early 2022.
Inland Homes chief executive Stephen Wicks said: “The granting of this planning consent at Gardiners Park Village means we can now begin to transform what has been a vacant, brownfield site for the past 40 years, into a thriving new community with 700 homes, of which nearly one third will be delivered as affordable.”