Developer Mount Wise (Gurnsey) has told Plymouth planning committee that it is ready to start work on the first 159 properties, including 77 affordable homes next month.
The committee renewed planning permission for the massive development on the former MoD site, first granted three years ago.
Mount Wise (Guernsey) said its scheme to transform the 28 acre former Royal Navy site at Mount Wise would officially “launch” on September 17 and 18.
The waterfront scheme, which aims to create ‘a village by the sea’, will consist of 469 Georgian inspired homes, a hotel, shop and offices.”
Mount Wise development advisor Angus MacDonald said: “We are thrilled to have secured the funding for this scheme.”