Banks Property Development and Miller Homes have formed a partnership to submit a joint planning application to deliver 490 new homes in Bellshill, North Lanarkshire.
The plan is to transform a derelict 16-acre site into new homes, potentially creating more than 1,700 new jobs in the process.
The area in question has been the subject of fly-tipping and anti-social behaviour in recent months.
The scheme was originally put forward by Hamilton-headquartered Banks Property Development in 2003, with initial permission for nearly 800 homes granted in 2004, before progress was halted by the 2008 financial crisis.
Since then, Banks has been working with the local authority to address the various planning matters associated with the site.
The new plans will take into consideration local views and will be further refined following discussions with the community.
Online consultation will start on 18 April, followed by another online event on 9 May. The intention is to host a face-to-face event later in the spring, where both Banks and Miller Homes will be on hand to discuss their plans in more detail.
If the planning application is approved, Banks will begin the process of improving the site to prepare it for development.
At present, it is anticipated that the construction of the new homes could start on site in the first half of 2023.
Andy Liddell, development director at Banks, said: “After years of hard and detailed work, we are delighted to be submitting an application for appropriate and high-quality homes that will see £100m invested in Bellshill.
“This project will regenerate an unsightly, derelict former industrial site into a new and vibrant community, where people want to live, that will generate tangible and lasting benefits to the local area for years to come.”
Paul Macari, land director at Edinburgh-based Miller Homes, said: “As a business we have invested heavily in North Lanarkshire, our involvement has included local developments such as the extremely popular Green Park Gardens, as well as the regeneration of Fullwood, located opposite the Clydeworks site.
“We are very much committed to the area and delivering these new homes will not just help ease some of the housing pressure in the area, but also support over 1,700 new jobs.”
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