The development has been on the drawing board for nearly two years but the signing will finally see construction get underway.
Work will involve the construction of over 200 homes and a significant expansion of the town’s shopping centre.
Lovell will deliver the housing element of the scheme, valued at £30m. The housing to be constructed will be a mixture of open market, affordable rent and shared ownership.
Paul Smith, Chief Executive of parent company Morgan Sindall said:”Lovell continues to make progress developing its market-leading position in the affordable housing arena with this latest deal, one of a number we have already secured this year.
“We look forward to working with Maple Grove and Craven District Council to deliver the development.”