The £26m development, Exhall Gardens, will be built on a previously vacant site on School Lane and provide much needed housing to the area.
Keepmoat said that 32 of the 125 properties would be made available for shared ownership and affordable rent by Flint Housing.
Construction is scheduled to start in May and take around two years to complete.
Keepmoat Homes regional managing director Charlotte Goode said: “The acquisition is a fantastic opportunity to strengthen our presence in the town and is another positive step for our ambitious growth plans in the West Midlands.”
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