Land Securities has exchanged contracts with Barratt subsidiary Ward Homes for the sale of 150 residential plots in Ebbsfleet Valley, kicking off a vast 269-hectare development.
The wider Ebbsfleet Valley project includes up to 6,250 homes and 231,000 square metres of commercial space, alongside four schools and community space.
Hotels, a theatre, and retail and leisure facilities are also to be built as part of the scheme.
The 150 family homes will be built on a 2.5 hectare site, with Land Sec providing serviced land parcels to Ward by carrying out enabling infrastructure.
Land Sec will also provide a Country Park and improvements to Southfleet Road.
Infrastructure work is set to begin in summer, with housing construction due to start in Autumn 2013.
Land Sec development director Emma Cariaga said: “We are delighted to have exchanged contracts with Ward Homes which enables the first stage of our redevelopment in the area.”
“This marks the start of an exciting regeneration of the area, which will bring new homes and businesses to the Ebbsfleet Valley region.”
“This represents a significant step forward in relation to the Government’s desire to see economic growth and housing delivery in Kent Thameside”.
Ward Homes managing director Mark Bailey said: “Ward Homes is proud to be associated with this unique landmark development and pleased that our local Kent brand was selected as the most appropriate to launch this prestigious site.
“We look forward to working closely with Land Securities and are committed to delivering a quality residential scheme that we are confident will be a highly desirable place to live.”