Crest Nicholson will deliver the first site under the programme designed to accelerate the delivery of 15,000 homes by December 2014.
The Crest Nicholson site is on the south east outskirts of Ashford.
The 168 hectare Cheeseman’s Green development has been granted £2.3m of funding for the release of 100 new three- and four-bedroom family homes.
This will form the first phase of the scheme, which has planning consent for a new community of over 1,000 new homes, alongside a primary school, healthcare facility, community centre, sports facilities and recreation areas.
Crest Nicholson has been shortlisted for £25.2m of loan funding investment across eight sites in total.
Stephen Stone, Chief Executive of Crest Nicholson, said: “The construction sector is recognised as a real driver for recovery and growth, and continued investment in the industry is essential.
“With every £1 spent on building work estimated to generate £2.84 of wider economic activity, this funding allocation is not only great news in terms of the delivery of much needed new housing, but will also inject a welcome boost into local economies.”