Taylor Wimpey has bought the Chilton Woods development site on the edge of Sudbury, Suffolk, from the county council for £35m.
The deal was set to exchange in March but had been delayed due to coronavirus.
The development will see 1,150 homes new homes built, 25% (or 288) of which will be affordable. A new primary school will be built alongside a village centre, local shops, a pub and a village hall. Some 50% of the site is allocated as green spaces.