The former Bridge Mills site was sold to Barratt by land development company BXB Land Solutions with outline planning approval for up to 165 residential units.
The brownfield site, acquired by BXB in January 2017, had been derelict for more than 10 years.
Barratt intends to submit a reserved matters application and start work on site in Tintwistle in summer 2018.
Gary Goodman, director at BXB, said: "This marks the first project completed by BXB. Our team has done a fantastic job in bringing the land back into productive use in a really short space of time, and we are delighted that a sale has now been agreed with Barratt Homes.”
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