The properties are to be built by Linden Homes, part of the Vistry Group, on a 16-acre parcel of land off Lynn Road to the north of the city of Ely.
The plans form part of the wider North Ely development, which is set to bring 1,200 new homes and associated community facilities over the coming years.
Linden Homes will put up 212 private homes and 46 affordable properties for rent or shared ownership.
In line with the planning agreement for the development, Linden Homes will be providing new cricket pitches and a pavilion for Ely Cricket Club.
It will also provide a country park and trim trail facilities spanning the length of the development, as well as an off-site cycleway.
Verity Macmahon, land director for Vistry East Midlands, said: “Named after the material used to make cricket bats, Willow Woods has been chosen as the development's marketing name to honour the cricket pitch we will be constructing at the site.
“Now that our plans have been given the go-ahead by the local authority, we are looking forward to putting the first spade in the ground and getting construction work under way.”
Linden Homes intends to begin construction work in December 2021, with the first homes due to be completed in late summer 2022.