Crest Nicholson has been appointed as development partner to deliver up to 4,500 new homes in Cambridgeshire for the Defence Infrastructure Organisation.
The major housebuilder will be lead developer on the Wyton Airfield site in a long-term partnership, which will help the Ministry of Defence meet its housing targets.
Wyton Airfield is near Huntingdon in Cambridgeshire and is no longer needed for defence purposes.
The MOD is now selling the land so that the fund can be reinvested in defence priorities.
It is expected to create 2,500 new jobs in the area across office and retail as well as 5,500 construction jobs.
DIO director asset strategy and portfolio Matthew Punshon said: “Where this allows us to release surplus land for development such as Wyton Airfield, it means that new homes can be provided where they are needed and helps to achieve wider government policies for housing supply and sustainable development.”
Crest Nicholson group new business director Scott Black added: “With an estimated gross development value of circa £1bn, the transformation of Wyton Airfield into a thriving new community will deliver a mix of much needed high quality new homes, including a proportion for private rent and selfbuild.
“Furthermore it will be supported by two new primary schools, a new secondary school and improved public transport connections into Cambridge and Huntingdon. It will deliver significant employment opportunities, as well as a district centre including shops, a doctors’ surgery and supporting community facilities.”