Vistry Group has been granted a reserved matters planning approval for 150 homes in Shefford, Bedfordshire and will spend £2.5m on local community investment.
Central Bedfordshire Council approved the scheme which will consist of one to five-bedroom homes, off Hitchin Road, and will include 53 affordable properties.
Tom Wheeler, regional land director at Vistry Northern Home Counties, said: "Vistry is delighted to make this £2.5million investment in the Shefford community as part of our latest location in the town. This will be our fourth development in Shefford during the past decade and signals our commitment to providing the local community with life-long homes and first-class services.
"These quality new-build homes will bring more much-needed affordable properties to Shefford, offering quality and spacious layouts for modern living, for all types of home buyers."
The financial contributions will be made towards education, healthcare, a library, play and outdoor sports facilities, a community building and delivery of an access road and services for a future school.