A £6.5m government loan could pave the way for 415 homes across a pair of sites in Derker and Mumps.
Oldham Council has provisionally secured the loan from Whitehall’s £400m Brownfield Housing Fund to transform the long-vacant sites.
Both schemes are to include a mix of affordable housing, aimed at cutting down the borough’s housing waiting list.
Off London Road and Abbotsford Road in Derker, £2m is earmarked to build around 150 homes. The council owns the land, which was cleared around a decade ago as part of the Housing Market Renewal programme.
The second site, near Southlink Business Park, is earmarked for £4.5m to deliver 265 homes.
This 14-acre plot, which includes part of the former railway line around Mumps, is jointly owned by Oldham Council and Transport for Greater Manchester.
Subject to final funding approval and planning consent, Oldham Council hopes to start on-site by the end of next year.
Cllr Hannah Roberts, cabinet member for housing, said: “Oldham Council’s approach has always been brownfield first. These schemes will bring much-needed affordable, modern homes to Oldham.
“They will regenerate land that has stood empty for far too long and they will support our commitment to protect the borough’s precious Green Belt and open spaces from development.”