The £59m scheme is being developed with help from Homes England at Kirkleatham Lane, on the edge of Redcar.
As part of the proposal, approved by Redcar and Cleveland Borough Council, 80 homes are to be developed for private rent at market level and 108 for affordable rent and shared ownership.
The partners that will provide these homes will be announced later.
The remaining 187 homes would be built for open market sale through Galliford Try’s house building division, Linden Homes.
The new project is the largest of eight schemes recently secured by Galliford Try Partnerships North, which will see the creation of just over 1,000 homes, with a total development value of £180m, over the next five years.
include another Teesside initiative – a £62m, 350 mixed tenure development adjacent to the James Cook University Hospital in the Brackenhoe area of south Middlesbrough and other developments in Darlington, Gateshead (two), Peterlee (two) and Washington.
“This new project has come about as part of our company-wide strategy to work with Homes England to tackle UK housing need,” said Sean Egan, Managing Director with Galliford Try Partnerships North.