Work will start on building 149 homes on the 30 acre brownfield site in late 2015.
Genr8 has also appointed Buckingham Group Contracting to undertake the next phase of infrastructure works which are expected to start on site early next year.
Buckingham’s contract includes significant earthworks and remediation providing development platforms for the scheme along with a new highway link and further flood defence works.
Genr8 completed an earlier phase of infrastructure works in 2012 which delivered new canal and river bridges, highways and flood defences.
It is anticipated that the residential scheme will start in late 2015.
Leader of Calderdale Council, Cllr Stephen Baines MBE said: “This is a great example of a public and private sector partnership working together to bring real improvements to the community.
“The relief road will ease congestion and reduce journey times, boosting our local businesses and encouraging new businesses to relocate to the area, bringing additional employment.
“The scheme will also help unlock land for much needed local housing.
Richard Ingham, Partner at Genr8 Development said: “Our selection of Taylor Wimpey as delivery partner for the Island Site is another significant step forward in the delivery of the Sowerby Bridge Copley Valley project.
“We are now looking forward to delivering the next phase of infrastructure which will prepare the site for both the residential and employment development.”
Ian Thompson, Land Director at Taylor Wimpey said: “Taylor Wimpey Yorkshire’s high quality housing offer will really enhance Genr8’s mixed use project.
“The site provides an exciting opportunity to strengthen our presence within Calderdale and assist in the regeneration that is already underway for the benefit of the Sowerby Bridge and Copley Valley area.”