House builder Story Homes has now reached a legal agreement to acquire land at Eastway from the Homes and Communities Agency (HCA).
The developer was granted planning permission for the homes on the 20hectare site between Eastway and D’Urton Lane by Preston Council earlier this month.
Martin Nugent, planner for Story Homes said: “We worked closely with the HCA, Preston Council and Lancashire County Council to bring forward a quality scheme which will be in keeping with the character of the local community.” He said benefits of the scheme would include job creation and security for local subcontractors, and a knock-on effect for the local supply chain.
Having exchanged contracts with the HCA, Story Homes will now work on a timetable for construction on the site.
The homes will range from two to five bedrooms, including 45 affordable homes.
A payment of more than £2m towards providing affordable housing elsewhere within Preston will also be made.
The site already had outline planning permission which the HCA secured for a mixed use development of up to 300 homes, employment land, a district centre and open space provision.
The mixed use element will come forward once the housing development is underway.
Eastway is one of 11 sites the HCA is bringing forward for housing development within the Preston, South Ribble and Lancashire City Deal,
Deborah McLaughlin, executive director, North West at the HCA said: “Increasing the supply of new homes and creating attractive places to live is our number one priority.
“So it’s great to see HCA land being used at Eastway to achieve this aim for the City Deal.”
Jim Carter, chairman of the City Deal, said: “We’re pleased that this agreement has been reached to bring new homes to Preston. It’s yet another example of how City Deal is already making positive changes in the area.
“One of the key aims of City Deal is to create homes for people to meet the future needs of the area.”