Newmarket can look foward to more than 350 affordable new homes being built close to the town centre.
On Monday councillors agreed to sell off ten potential residential sites belonging to Forest Heath Council including more than 15 acres of land just off George Lambton Avenue.
The land is being sold to the Flagship Housing Group in a deal which will net the council over £13.5 million.
Of this, £10 million will be ploughed back into the cost of providing affordable housing which will meet the council’s own targets and the community’s needs.
Forest heath chief executive David Burmip said: “This is an innovative idea and we are the first council in the east of England to adopt this approach. We are now in a position to provide over 400 such homes.” The application under consideration is for 29 one-bedroom flats, 45 two-bedroom flats, 27 one-bedroom bungalows, 22 two bedroom bungalows, 105 two bedroom houses and 76 three-bedroom houses.