In exchange for planning permission, Gleeson has agreed to pay more than £1m to good causes – £150,000 to the NHS, £844,070 for local education and £150,000 to fund a new bus service.
Gleeson is also paying £5,000 towards travel planning and £5,000 towards traffic regulation orders.
The development, which will be known as Bracken Park, will be built on a 25-acre plot off Brackenborough Road in Louth, will have traditionally-built, affordable 2, 3 and 4 bedroom semi and detached homes.
Construction at Bracken Park is set to begin in summer 2021, with the show homes opening in February 2022. The first new homes for sale will be released for sale in December 2021.