The developer will also create 19,000m2 of commercial space along with the provision for a new primary school.
Together with its equal joint venture partner, Inland Homes owns and controls 1,253 residential plots and 4,905m2 of commercial and educational space within the area, with an estimated GDV of £620m.
The first phase of the project — delivering 195 units as part of a reserved matters application — will be brought forward at the earliest opportunity.
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Stephen Wicks, chief executive at Inland Homes (pictured above), said: “I am delighted with the positive decision delivered by the planning committee.
“Cheshunt Lakeside is the largest planning approval obtained by Inland Homes since its incorporation and a major milestone for the business.
“The development of what will become a new ‘urban village’ will sit in eight acres of landscaped grounds, together with the creation of a new public square, shops, cafes and offices close to Cheshunt station and will create a superb environment for residents and businesses alike.”