Kier Property is to start work on 152 new homes in Kent after striking a deal with the County Council expected to be worth £30m.
The homes, built across the county, will be a mix of market sale, new, rental and affordable housing.
A deal has been struck for a transfer of land to provide Kent County Council with a regular income stream.
The scheme is being backed by an institutional investor, and a registered provider and investor are expected to be revealed in April.
Work is set to begin on site within 12 months.
Kier is set to fund and develop the sites, leasing the completed housing to a registered provider.
Leader of Kent County Council, Paul Carter, said: “This is just the kind of deal that needs to be cracked to get Britain building.
“Through an innovative land transfer, 152 new homes will now be built for local people, and local jobs and apprenticeships will be created.
“By harnessing its assets effectively, the council will also benefit from a long-term income stream which can be reinvested in local services. With many developments currently stalled across the country, this is a groundbreaking scheme for Kent which gets local people working and local housing moving. I have no doubt the approach will be replicated around the country.”
Kier director of development and affordable housing Dennis Seal said: “This new development and approach to housing provision will significantly improve the housing supply in Kent whilst guaranteeing an attractive return for the investor.”
Kier has also commented to recycling project funding within the local community, with a requirement that two thirds of funding to be spent on SMEs within 30 mils of site.
The housebuilder also said they were reviewing options for new homes on land owned by Kier in Ashford.