Its second residential development site will be in Cambridge, near to its 6.5 acre launch site at Great Kneighton, bought in January.
The latest 12 acre site comes with outline planning permission for up to 310 houses and apartments, and could cost up to £30m to build.
Skanska will apply for planning permission in the first half of next year with construction planned to start later that year.
At its first development site at Great Kneighton, the firm has now received full planning consent for 128 properties.
Construction is due to start on this within the next few weeks.