Outline planning permission for 1,550 new homes to the east of Swindon has been granted.
The borough council's planning committee granted an application by Swindon-based developer Capital Land Property Group, which was founded in 2014 by Jeremy Francis.
The permission relates to the Great Stall East, Gateway of the New Eastern Villages (NEV) development, which Capital Land says will transform the eastern side of the town.
The firm says it will deliver a primary and secondary school along with the new homes - which will have from two to five bedrooms.
Jeremy Francis said: “I am Swindon born and raised and my family roots here date back three generations.
"In fact, the whole Capital team has an emotional attachment to the town, so the news that we have secured planning permission after years of meticulous preparation is tremendously satisfying.
“Not only will we build some great homes for people to live in, our plans show that we will create a genuine ‘village’ community, with all the local amenities you would expect in a thriving location and the kind of expansive green spaces families of all ages will appreciate.
"I take pride in all my projects, but being able to contribute to Swindon’s growing reputation as a residential and business hub is extra special.
“Securing planning permission for Great Stall East is the result of several years of detailed technical and design work and it follows very constructive and collaborative meetings with Swindon Council, not to mention a public consultation.
"Involvement of local people in our decisions is key and I want to thank all those involved with the project for helping us achieve this major milestone.
"We are talking about an investment of over £400m, so this is a really significant project for the town’s future.”
Council leader David Renard said of the NEV project: “Here, we are not just building houses but sustainable communities, ones that will have as much a stake in the future prosperity of Swindon as the rest of the town.
"In many ways, the NEV is the next big chapter in Swindon’s exciting story.”
Capital Land plans to play a central role in delivery of key infrastructure as well as having a continued influence over design and delivery of the scheme, and the firm says it will create hundreds of direct jobs during the approximately 14-year construction period, as well as many indirect jobs in the construction and supply sectors.
New Eastern Villages is billed as the largest urban regeneration development in the UK.
It lies between the North Wessex Downs and the Cotswolds. Identified in Swindon’s strategic growth area within the adopted Swindon Borough Local Plan 2026, it will feature up to 12,000 homes, a new district centre and employment and associated health, retail, education and leisure facilities.