Barratt has been given approval for a £1bn plan to regenerate the centre of Basildon in Essex.
The council agreed a deal with Barratt Homes Wilson Bowden Developments (BWB) to set up Basildon Regeneration, which will take charge of the 20-year project.
It includes: 52,000 sq m of new retail and leisure space; 54,000 sq m of new offices, 1,900 new homes; a hotel; a college; improvements to transport facilities; and an extension to the Towngate Theatre, taking capacity from 546 to 1,200 seats.
BWB will now be required to prepare a master plan within 12 months, providing detailed plans for the town centre and a schedule for the various projects. It will also submit plans for the first wave of homes, which will provide the funding to support the wider regeneration scheme.
Councillor Tony Ball, leader of Basildon Council, said: “This is a long-term project that will help to get Basildon back into the top 50 town centres in the country, where it belongs.
“With a new and improved shopping and leisure experience, more jobs and homes this will in turn help to create a new economic vibrancy to the town centre. The regeneration is about the whole town centre, not just the shopping streets. The plans extend beyond the shopping core, providing opportunities to maximise the range of facilities and job creation.”