Leading regeneration specialist St Modwen has begun work to pave the way for the construction of the first 100 new homes on the former RAF site.
This phase of development will also deliver 6,000 sq ft of offices and provide serviced plots for future building of a 14,000 sq ft office building and a 30,000 sq ft Innovation Centre.
The regeneration of the 200 acre site, when complete, is set to create up to 2,000 new jobs in 450,000 sq ft of high quality business space, and provide up to 1,500 new homes as well as community and retail facilities.
The development is a long-term project that is expected to take up to 20 years to complete.
It marks a major milestone for St. Modwen and the Homes and Communities Agency, which have worked together for more than two years to prepare the site for development.
Rupert Joseland, South West Regional Director for St. Modwen, said: “The start of work on site is a testament to the hard work from all partners over the past two years to progress this important scheme.
“It is especially good news in the current climate that funding is secured to transform Locking Parklands into a high quality business and residential community within the next 20 years. “
The HCA has invested around £6m in this first phase of development, taking the total level of its investment in Locking Parklands to more than £12.2m since 2002.
Forty of the new homes will be private homes, 30 will be affordable and a further 30 will be available to buy under the HomeBuy Direct scheme.
The first homes will start being marketed from July this year. St. Modwen will also be working with West at Work to offer opportunities for local apprenticeships at the development.