Vistry Group has finalised an agreement with O&H Properties for an 11.6-acre site in Great Haddon, Cambridgeshire, UK.
The project will see the construction of 178 new family homes.
Vistry Group has collaborated with Citra Living, part of Lloyds Banking Group, to build 150 homes designated for private rental.
The remaining 28 homes will be built by Vistry as Section 106 affordable housing.
Adjacent to Vistry’s existing Fletton Folly community, the new development will offer a range of two-, three-, and four-bedroom family homes.
Citra Living chief executive Andy Hutchinson said: “Our key aim at Citra is to help more people live in the homes they want in the places they want to live, and these new family homes at Great Haddon are a fantastic example of that.
“By working with providers like Vistry, we can help bring more new, quality homes onto the market faster in the areas that need them most.”
The site will provide access to new schools, parks, water features, open fields, meadows, footpaths, and cycleways.
The development's location also provides transport connections, with Peterborough Station just over five miles away, offering train services to various destinations.
Vistry has already obtained Reserved Matters planning approval and anticipates commencing construction soon.
Vistry Partnerships and Regeneration chief executive Stephen Teagle said: “This site is the first of a number of sites we have in the pipeline with Citra Living, reflecting our shared ambition to increase the supply of high-quality family rental accommodation by transforming sites like Great Haddon into great places to live.”
Last month, Vistry Group was appointed by Goram Homes, a housing company owned by Bristol City Council, to construct 140 new homes in Lockleaze, Bristol.