Housebuilder Redrow Eastern has completed the acquisition of a 24.3-acre site in Chelmsford Road, Shenfield.
Full planning permission has also been granted for the development, paving the way for 191 new homes.
The land was secured following three years of planning work by Redrow Eastern, and subsequent land negotiations with the landowners, who were represented by Savills.
Ben Sinclair, head of Development at Savills Chelmsford, said: “This was an exciting, long-term opportunity, and we are pleased to have supported the landowners throughout the option period, working collaboratively with Redrow in securing a consented site in a prime Essex location.
“Shenfield is a market with strong fundamentals, and this scheme is well positioned to meet local demand for high-quality new homes.”
Groundwork is scheduled to start in spring, with first occupations anticipated in early 2027.
The new community will comprise of 124 private homes alongside 67 affordable homes, including shared ownership and affordable rent properties. The private homes will range from two to five bedrooms – with an emphasis on character-led design and energy efficiency.
The scheme will deliver a minimum of 10% biodiversity net gain for the local community alongside green space and play areas.
Redrow Eastern will also be contributing over £4.5m to support local healthcare, education and sports services.
Jackie Coulthard, managing director at Redrow Eastern, said: “Shenfield is a highly desirable, well-connected area and one where we can really showcase what Redrow is known for – thoughtful design, strong character and high-quality placemaking.
“This has been a long-term project, requiring close collaboration with landowners and the local authority to ensure that we’re delivering much-needed homes and green spaces that the community needs.
“We are pleased to now be in a position to bring the scheme forward and deliver a premium collection of private and affordable housing, generous green space and a sense of place that reflects the location.”