Persimmon Homes has announced plans to build up to 700 homes after acquiring a 19.6 hectare site in Coventry.
The deal makes way for a phased regeneration plan beginning in May 2015.
Plans include to build 3,500 sq ft of employment land, along with a £700,000 investment in education facilities for the area. A playing field will also be created for Broad Heath Primary School.
It is expected work will last eight years, with the final phase being completed in 2023.
Managing Director of Persimmon Homes South Midlands, Andy Peters, said: "This is a landmark deal for us and Coventry that reinforces our commitment to create new homes and jobs for the city."
(LM/CD)
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