Plans to develop the existing club site at Sector Lane into 71 new homes were intended to also facilitate the club’s move to larger premises but were stalled after the Football Association pulled funding.
Devonshire Homes applied to the Homes & Communities Agency (HCA), which administers the Get Britain Building programme, for support for its project.
The investment will allow the first phase of 43 new homes on the site, as well as the development of new facilities for the football club on a neighbouring 10 acre site.
Devonshire Homes land and planning director Steve Russell said: “We have built a strong working relationship with Axminster Town and look forward to ensuring their move to the new site is as swift and easy as possible. Work has already commenced on the new clubhouse site and we hope to start work at Sector Lane in the coming months, with the first affordable home delivered in the summer next year.”
The residential development of the Sector Lane site will in total provide 71 new homes consisting of 53 one, two, three and four bedroom houses alongside 16 affordable homes ranging from one bedroom apartments through to two and three bedroom houses.
Colin Molton, HCA executive director for the south and southwest, said: “This is an important project for us, as it supports the delivery of new homes which are needed in this area as well as unlocking the development of new facilities which the football club have been working hard to bring to the town.
“It’s good to see that the Get Britain Building programme is once again delivering new homes, community facilities and safeguarding jobs in our area through projects such as this.”