A total of 250 acres — out of a potential 605 acres — was acquired by Homes England at the site known as Fairham.
Homes England will work alongside land owners CWC and local authority Rushcliffe Borough Council to produce the houses, as well as an additional 100,000m² of employment space.
The site was acquired through the government’s £1.3bn Land Assembly Fund.
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Kit Malthouse MP, minister of state for housing, said: “This government is on an urgent mission to deliver 300,000 new homes a year by the mid-2020s, helping a new generation to realise the dream of home ownership.”
Dave Mitchell, executive manager for communities at Rushcliffe Borough Council, added: “Delivery of the Fairham site is essential to our ability to maintain the momentum required, while it is also a strategically important site locally, regionally and nationally for Nottinghamshire County Council, Nottingham City Council and ourselves.”