Keepmoat Homes and Strata have commenced development on sites at Brooklands Avenue, York Road and Kentmere Approach in Seacroft, and Cartmell Drive in Halton Moor.
The developers secured planning permission for 13 significant developments sites across east Leeds.
The council had previously marketed the sites as a package in 2015 and has worked closely with both developers over the last 18 months.
The first phase of the development will provide 178 two-, three- and four-bedroom homes at Brooklands Avenue, 33 three- and four–bedroom homes at York Road, and 45 two- and three-bedroom homes at Cartmell Drive.
The first properties are scheduled for completion this year.
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There will also be the delivery of 128 two-, three- and four-bedroom homes over the next two years at Kentmere Approach, while development at Bishops Way is due to commence shortly, delivering 109 new homes.
The overall regeneration will deliver close to 1,000 new homes in the neighbourhoods of Seacroft, Halton Moor and Osmondthorpe, with a further 700 homes on land behind Seacroft hospital.
The investment is expected to create 900 new jobs.
Ian Hoad, managing director of Keepmoat West Yorkshire, said: “This is an exciting time for Leeds as the city undergoes some major changes.
“We’re delighted to be delivering much-needed houses to local residents as part of Leeds City Council’s extensive regeneration vision, as well as providing local jobs and training opportunities.
“The brownfield sites offer huge potential for redevelopment, which the council has recognised, and we look forward to working with Strata Homes to make the vision a reality.”