The Honeybrooke development in Stoke Hammond will deliver affordable homes, including 43 houses and 15 apartments. 34 will be for affordable rent and 24 for shared ownership.
The homes are being built on a site purchased by Peabody in 2017. Work is expected to complete in early 2024.
The site is situated a 15-minute drive from Milton Keynes City Centre and sits close to major road networks such as the A5 and M1. Honeybrooke is also close to Bletchley Train Station which offers routes to London and Birmingham.
The homes at Honeybrooke include a number of sustainability features such as thicker walls to reduce heating bills. Additionally, all properties will be gas free with air source heat pumps and solar panels included.
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Commenting on the project, Elena Brodetsky, Delivery Director at Peabody, said: "We had a fantastic day celebrating this significant achievement with our partners, Hill.
"With demand for rural affordable homes now 10 times higher than towns and cities, Honeybrooke will offer much-needed homes in a sought-after area with great connections and beautiful green spaces.
"Building homes that are energy efficient and more environmentally friendly in the long-term are key priorities for both Peabody and Hill. We're expecting the first of these low-energy affordable homes to be available from early next year, and we're looking forward to welcoming new residents to the neighbourhood."
Reflecting on their involvement, Simon Trice, Managing Director at The Hill Group, said: "We are delighted to be working with our partners Peabody to provide much-needed affordable housing in Stoke Hammond and are pleased to reach this key milestone of the Honeybrooke project.
"Both organisations are committed to supporting those in need of affordable housing with high quality, energy efficient homes and we look forward to completing the delivery of these sustainable new homes to help transform the lives of current and future generations."
